Consumer spending stalls in March for second month

Washington

US consumer spending stalled in March while inflation slowed to below the Federal Reserve's target, showing the biggest part of the economy might take more time to gain momentum after a tepid start to the year.

Purchases were little changed in both March and February from their prior months, Commerce Department figures showed on Monday. The median forecast of economists in a Bloomberg survey called for a 0.2 per cent advance. Incomes rose 0.2 per cent, with falling prices applying a drag on the nominal figures.