(MENAFN) US consumer spending barely rose in February as households used the windfall from lower gasoline prices to boost savings to the highest level in more than two years, Gulf Times reported.
Economic growth has been undercut by bad winter weather, a strong dollar, a now-settled labor dispute at busy West Coast ports and softer demand in Europe and Asia.
"We expect spending activity to rebound meaningfully in the coming months as the weather setback dissipates," deputy chief economist at TD Securities in New York said.
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