Gallup: Consumer spending increases in February
People in the United States increased their spending in February, according to new data from Gallup.
{mosads}The polling company said adults reported spending $87 a day in February, according to 13,000 daily tracking interviews.
That’s a slight boost from January’s $78 a day, and the highest daily spending in February since 2008. February is generally a more robust month for spending than January, a month when families often pare back their budgets following the holiday season.
Lower- to middle-class consumers fueled the rise, Gallup said, which isn’t normally the case.
Consumer spending accounts for about two-thirds of the economy, so it plays a big role in measuring economic and job growth. The federal government releases the February jobs report on Friday.
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