WASHINGTON AP - Consumers, jolted by a credit crisis, job cuts and soaring energy costs, turned in the weakest spending performance in 17 months in February, further evidence that the risks of a recession are increasing.The Commerce Department said Friday that consumer spending edged up by just 0.1 percent last month, the poorest showing since September 2006.
March 31, 2008 at 12:00 AM
1 minute read
WASHINGTON AP – Consumers, jolted by a credit crisis, job cuts and soaring energy costs, turned in the weakest spending performance in 17 months in February, further evidence that the risks of a recession are increasing.
The Commerce Department said Friday that consumer spending edged up by just 0.1 percent last month, the poorest showing since September 2006. And if the effects of inflation are removed, spending was flat in February, the third consecutive month of sluggish activity.
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