MW: U.S. real consumer spending falls 0.2% in February
U.S. consumers retreated in February after splurging in January as income growth stalled, the Commerce Department reported Friday. Real consumer spending (after adjusting for inflation) fell 0.2% in February after rising by a three-year high of 0.7% in January, the government estimated. Current-dollar incomes fell 0.2% in February as wages declined 0.4%. Incomes were at the lowest level since April. After-tax disposable incomes fell 0.1%. After adjusting for inflation, after-tax incomes dropped 0.4% in February after surging 1.4% in January. Consumer prices increased 0.3% for the second month in a row. Core prices rose 0.2%.
