New trends in store for US spending

Household spending in the US is on track to rebound after a bout of bad weather, but the Federal Reserve's preferred measure of inflation suggests the economy is not out of the woods yet.

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.

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