Personal Spending Rises in February

Consumer personal spending rose 0.8% in February, the biggest gain in seven months, the Commerce Department said.

The increase followed a revised 0.4% gain in January that was larger than previously reported.

The February gain surpassed economists’ median forecast of a 0.6% increase, Bloomberg reported.

Personal incomes rose 0.2%.

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