-
U.S. Consumer Spending Rose in January by Most in Eight Months
Consumer purchases climbed in January by the most in eight months, fueled by faster earnings growth and indicating the biggest part of the U.S. economy gained momentum at the start of 2016. The 0.5 percent advance followed a 0.1 percent gain the prior month, a Commerce Department report showed Friday. The January figure exceeded the 0.3 percent median forecast in a Bloomberg survey. Incomes also climbed 0.5 percent, more than projected. The Federal Reserve’s preferred measure of inflation rose by the most since October 2014. Steady hiring, cheap gasoline, and rising home values are powering Americans’ ability to ... (full story)