Consumer spending in US rises 0.3% adjusted for inflation

[WASHINGTON] Consumer purchases adjusted for inflation rose 0.3 per cent in January following a 0.1 per cent drop the prior month, a Commerce Department report showed Monday in Washington.

So-called nominal spending, which doesn't take into account changes in price, fell 0.2 per cent, while incomes grew 0.3 per cent.

Nominal spending was projected to fall 0.1 per cent, according to the median forecast of 80 economists surveyed by Bloomberg. Forecasts ranged from a 0.3 per cent decrease to a 0.5 per cent increase.

BLOOMBERG