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LATEST US DATA

Consumer spending rises a mere 0.1%

Figures largely point to a cooling in spending - compared to a 0.5% rise in January - and a slowdown in income growth

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Consumer expenditure last month was held back by a 0.7 per cent drop in purchases of goods. Spending on services rose 0.4 per cent while personal income rose 0.2 per cent - after rising 0.5 per cent in January.

Washington

US consumer spending rose marginally in February and overall inflation retreated, suggesting the Federal Reserve could take its time in raising interest rates this year despite a tightening labour market.

The Commerce Department said on Monday that consumer spending

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