Spiga

How can you spend more than you have?

Consumer spending advanced 0.5 percent in February, as expected, from an upwardly revised 0.1 percent reading in January. Spending was buoyed by solid retail sales and a sharp rebound in expenditure on durable goods like cars, Commerce Department data showed.

Personal income gained 0.3 percent. Analysts had forecast personal income to climb 0.4 percent after it slumped 2.5 percent in January, but those numbers were distorted by a massive Microsoft dividend payment in December.

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