Consumer Spending Continues to Rise

U.S. consumer spending rose 0.7 percent in February, the largest increase since October and the eighth straight month of gains, the Wall Street Journal reported today. After adjusting for inflation--factoring out such things as the jump in gas prices--consumption rose 0.3 percent, the Commerce Department said yesterday. The pickup in spending came as personal income rose by 0.3 percent last month, though higher prices sapped the gains. The saving rate, meanwhile, slid to 5.8 percent.