Consumer spending, which had soared because of unusually warm weather in January, slowed sharply in February while Americans’ incomes grew by the smallest amount in three months.
The Commerce Department reported Friday that personal consumption spending rose by a tiny 0.1 percent last month, the weakest gain in six months. It followed a huge 0.8 percent surge in January that had reflected a mild winter that lured shoppers to the stores to spend their Christmas gift cards. Personal incomes rose by 0.3 percent in February, less than half the 0.7 percent jump in January.
