US consumer spending rose for the second consecutive month in February, in a fresh indication that recession in the world's largest economy may be easing.
The US Commerce Department said that personal consumption expenditures increased $17.2 billion, or 0.2%, from January, in line with analysts’ expectations.
Expenditures had risen $94.8 billion, or 1.0%, in January based on revised estimates, the department said.
Consumer spending is a key barometer of the US economy facing prolonged recession after a housing mortgage crisis sparked financial turmoil across the globe and caused a severe economic downturn.
The report showed that personal income contracted 0.2% in February, slightly weaker than expected by analysts.
In January, personal income had increased by 0.2%.
Personal income, which tracks income from all sources, is the largest component of total income is wages and salaries estimated using payrolls and earnings data.
US consumer spending rises again
