Income Up, Spending Growth Slows
March 28, 2008
Personal income rose in February and inflation stalled but spending increased slowly in the United States, the Bureau of Economic Analysis said Friday.
Personal income increased 0.5 percent, or $56 billion, in the month, while consumption expenditures gained $12 billion, a 0.1 percent rise, the report said.
Analysts had expected a 0.3 percent rise in income and a 0.1 rise in spending.
Disposable income rose 0.5 percent, or $48.7 billion, the bureau reported.
Government wages and salaries increased $5.8 billion in the month, about half the increase of $10.7 billion recorded in January. Private wages increased $14.8 billion in February, also a decline from January, when the increase recorded was $21.9 billion.