Mar 29, 2010 11:13 AM by Bea Karnes, News First 5
Americans aren't making any more money--but they're spending more.
Consumers spent modestly last month, a sign that the economic recovery is proceeding at a decent - but not spectacular - pace.
The government says consumers boosted their spending 0.3 percent in February, a tad slower than the 0.4 percent increase in January. Still, the increase was considered a respectable showing, especially given the snowstorms that slammed the East Coast.
Americans' incomes, however, were flat. That followed a solid 0.3 percent gain in January and suggested consumers will stay cautious in the months ahead, making for a modest recovery.
Spending growth matched economists' expectations. The showing on incomes was a bit weaker than forecast.