U.S. consumer spending rises 0.2% in March

U.S. consumer spending rises 0.2% in March

Consumer spending in the U.S. rose 0.2% in March to mark the smallest increase since December, providing more evidence that the economy has slowed. Personal income also rose a seasonally adjusted 0.2% last month, the Commerce Department said Monday. Economists surveyed by MarketWatch had forecast a 0.1% rise in spending and a 0.4% increase in income. Since income and spending grew at the same pace, the personal savings rate held steady at 2.7%, just slightly above a five-year low. Inflation-adjusted disposable income rose 0.3% last month. Inflation as gauged by the core PCE price index was unchanged in March. The core rate, which is closely followed by the Federal Reserve, has risen just 1.1% in the past 12 months, down from 1.3% in February

The BEA released the Personal Income and Outlays report for March