U.S. consumer spending rises in January
WASHINGTON, March 3
WASHINGTON, March 3 (Reuters) - U.S. consumer spending rose more than expected in January, likely as chilly weather boosted demand for heating.
The Commerce Department said on Monday consumer spending increased 0.4 percent after advancing by a revised 0.1 percent in December. Spending was previously reported to have gained 0.4 percent in December.
Economists polled by Reuters had forecast consumer spending, which accounts for more than two-thirds of U.S. economic activity, edging up 0.1 percent in January.