WASHINGTON — Personal income rose $28.2 billion, or 0.2%, in February, while consumption rose 0.8%, the Commerce Department reported Friday.
The February increase followed a downwardly revised 0.2% gain in January, originally reported as 0.3%. The February rise was short of the median 0.4% increase estimated by economists polled by Thomson Reuters.
Personal spending climbed $86.0 billion, or 0.8% in February. That increase followed an upwardly revised 0.4% gain in January, originally reported as 0.2%.
The February gain surpassed the 0.6% increase projected by economists polled by Thomson Reuters.