Consumer Spending in U.S. Probably Cooled as Prices Climbed

Consumer spending in the U.S. probably rose at a slower pace in January as food and fuel prices climbed, economists said before a report today.

Americans’ purchases, which account for about 70 percent of the economy, rose 0.4 percent after a 0.7 percent gain in December, according to the median estimate of 59 economists surveyed by Bloomberg News. Other figures may show manufacturing continued to expand and home sales dropped.