Incomes Rise, Consumer Spending Ticks Slightly Higher In February

Incomes are up in the U.S. and consumers are spending a bit more.

FOX News Radio’s Jared Halpern has more from Washington.

After two months of declines, consumer spending ticked up in February and incomes jumped nearly half a percent, a healthy increase that has economists hopeful it means more consumer spending.

With income growing faster than spending, the saving rate is also up to 5.8 percent, the highest level since December 2012. Some of that savings, however, is considered fallout from winter weather keeping shoppers away from auto dealers and malls.

Sales also down at restaurants and appliance stores. That could mean slower economic growth for the year’s first quarter.

In Washington, Jared Halpern, FOX News Radio.