Spending Rises Less Than Forecast as Americans Boost Savings
March spending gain wraps up weakest quarter in a year
Inflation gauge preferred by Federal Reserve rose 0.8% YoY
Victoria Stilwell and Shobhana Chandra
Consumer spending rose less than forecast in March, wrapping up the weakest quarter in a year for the biggest part of the U.S. economy even as incomes accelerated.
Purchases picked up 0.1 percent after a revised 0.2 percent gain in February, Commerce Department figures showed Friday. The median forecast in a Bloomberg survey called for a 0.2 percent advance. Incomes increased 0.4 percent, matching January as the biggest gain since June.
