US Consumer Spending Rises 0.2% in February
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US consumer spending rose 0.2 percent in February, a second straight month of increase after a record six consecutive months of declines, the Commerce Department reported on Friday.
The February gain followed an increase of 1 percent in January.
Personal income, the fuel for future spending, declined by 0.2 percent in February, offsetting a 0.2 percent gain in January.
Americans' disposable personal income, or after-tax income, decreased by 0.1 percent in February after having gained 1.6 percent in January.
Consumer spending accounts for two thirds of overall economic activity and is a major force pushing the economy to grow.
Some analysts believe that spending could falter in coming months as the economy is struggling through a persistent housing slump and a credit crunch.
(Xinhua News Agency March 27, 2009)