U.S. Consumers Are Saving at Highest Rate Since 2012
Households are opting to save instead of spend, even though they're benefiting from a better job market and cheaper gas prices
U.S. Consumer Spending Rises 0.1%, Incomes Up 0.4%
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A booming job market and cheaper fill-ups at the gas pump should be giving millions of Americans more reasons to spend. Instead, they're salting away the extra savings.
The saving rate jumped in February to 5.8 percent, the highest since December 2012 and up from 4.4 percent just three months earlier, government data showed Monday.