Personal Spending Rises 0.7%

Consumer personal spending rose 0.7% in February, the Commerce Department said Monday.

The gain followed a revised 1.2% increase in January that was a percentage point higher than the 0.2% first reported.

The February increase topped economists’ forecasts of a 0.5% increase, Bloomberg reported. Personal incomes rose 0.3%, less than forecast, Bloomberg said.

The final three months of 2010 were the strongest quarter in more than four years for personal spending.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.