WASHINGTON — The U.S. February personal income report was far weaker than on its face and confirms that the first quarter will struggle to post positive real growth.

February personal income was up 0.5%, personal consumption posted a 0.1% increase, and personal consumption expenditure core prices rose 0.1% in the month for a 2.0% increase over the year. Core prices last posted a 0.1% gain in June 2007.

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