Consumer Spending shows small increase

• March 31, 2017
• realestatelife
• Business & Markets, Real Estate Finance

Consumer spending showed a scant 0.1% increase last month. Economists had forecast a 0.2% gain in spending. Americans spent more on services such as travel but less on new cars and utilities during the second warmest February in 123 years. The slowdown in spending for the second straight month took place despite another healthy 0.4% increase in how much income Americans earn. As a result, the savings rate rose to 5.6% from 5.4%, the Commerce Department reported Friday.