BIG SURGE IN PERSONAL SPENDING, BUT INCOME GROWTH IS WEAK

Photo: Tel Star Logistics

UPDATE:The numbers are mixed, but spending looks very good.

Specifically, headline spending growth was 0.8%, well above expectations of 0.6%.

What’s more, January spending growth was 0.4% vs. an earlier number of 0.2%.

On the other hand, income growth was weak at just 0.2% vs. expectations of 0.4%.

And last month was actually revised down from 0.3% to 0.2%.

sceptics will certainly note that a situation of declining income growth and growing spending growth will be hard to maintain.

The full report is here >

 

ORIGINAL POST: The first big number of the day: February personal income and spending.

Analysts expect personal income to rise 0.4% in February, a modest acceleration from the 0.3% gain seen in January.

On spending, analysts expect a rise of 0.6% vs. 0.2% from January.

We’ll have the number here LIVE at 8:30 AM ET.

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