Consumer spending increases marginally in February

After two straight months of .02 percent declines in December and January, U.S. consumer spending rose by 0.1 percent in February, reported the Commerce Department.

While the increase may be modest, consumer income rose by a healthy amount of .04 percent, which matches January's rise, thus leading economists to believe that a spending boost will come in the next few months.

Spending on nondurable goods such as food and energy saw a 0.4 percent increase while durable goods were down 0.1 percent as auto sales weakened. A portion of these mild increases may be due to severe cold weather, which keeps shoppers away from malls and car dealerships. Sales have fallen in various industries, such as restaurants, home improvement stores, electronics and appliance stores.

As the country moves into the second quarter of the year, industry professionals are optimistic for a healthy growth rebound of 3 percent or better.

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