Investing.com - U.S. consumer spending remained steady in February, according to a report released on Thursday.
The Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.2% last month, matching the previous month and in line with forecasts.
The Federal Reserve's preferred inflation measure, the personal consumption expenditures (PCE) price index excluding food and energy, rose 0.2% in February after an increase of 0.3% in the prior month.
The so-called core PCE increased 1.6% in the 12 months through February, picking up from 1.5% a month earlier.
Personal income rose 0.4% last month after advancing 0.4% the previous month.