US personal spending grows by 0.4% in February

Personal consumption expenditures (PCE) in the United States in January increased by $87.8 billion or 0.4% on a monthly basis, the country's Bureau of Economic Analysis revealed in its report published on Friday.

The PCE price index in the reported month grew 0.3% compared to January while advancing 2.5% year over year. Excluding food and energy, the index was 0.4% higher in February from the month prior and up 2.8% from a year ago.

In January, personal income increased by $194.7 billion, or 0.8%, and disposable personal income (DPI) gained 0.9%, or $191.6 billion.