Spending up, income down. I thought Larry Kudlow told us incomes were up, so we didn't need the stimulus. Just another chapter in the Kudlow story to be filed next to the Goldilocks Economy and the Greatest Story Never Told. And CNBC extended his contract?
U.S. consumer spending rose for a second straight month in February, while incomes reversed the previous month's gains, government data showed on Friday.
The Commerce Department said spending increased by 0.2 percent, after rising by a revised 1 percent in January, previously reported as a 0.6 percent increase. However, after adjusting for inflation, consumer spending in February fell 0.2 percent.
