Consumer Spending Rises in February

Washington, DC, March 30, 2012 -- Consumer spending in February rose at the fastest pace in seven months, according to the Commerce Department.

However, much of the spending was used for higher energy costs.

Incomes rose more slowly.

Personal spending jumped 0.8% in February as personal income edged up 0.2%, the Commerce Department said Friday.

Spending was also revised up to a 0.4% increase for January, double the original estimate, while the rise in income was lowered slightly to a 0.2% rate.

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