NEW YORK (CNN/Money) - The spending and income of U.S. consumers rose in February, the government said Friday in a report that missed Wall Street forecasts -- with income more than expected and spending less.
Spending by consumers, which accounts for about 70 percent of the nation's economic activity, rose 0.2 percent after rising a revised 0.5 percent in January, the Commerce Department said. Personal income rose 0.4 percent after rising a revised 0.3 percent in January.
Economists, on average, expected spending to rise 0.5 percent and income to rise 0.3 percent, according to Briefing.com.
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