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.
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.