Household spending in the United States returned to more normal levels in February and is poised to rebound further in March as the effects of adverse weather diminish. It points to a fairly subdued quarter for consumption growth, but not as disastrous as many feared.
In the US, real personal consumption rose by 0.2 per cent in February, in line with expectations, to be 2.1 per cent higher over the year. This follows fairly weak results in December and January, which have been widely attributed to poor weather.
