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Keeping Track ...

Wallet expansion

April 5, 1999



Americans' personal income increased at a robust pace in February while their spending rose even faster. Personal income was up a seasonally adjusted 0.5 percent in February following a 0.6 percent gain in January, the Commerce Department reported. Consumer spending jumped 0.7 percent in February after a 0.4 percent rise the previous month.

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Meanwhile, demand for labor in the US remains strong. The nation's unemployment rate fell from 4.4 percent in February to 4.2 percent last month. The rate is hovering near a 29-year low.