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US consumer spending rises moderately in February

A cashier, left, returns cash to a customer at a Vineyard Vines store in Illinois.

Daniel Acker | Bloomberg | Getty Images

U.S. consumer spending rose moderately in February and momentum is set to fade rapidly in the coming months, with the coronavirus pandemic upending life for Americans.

The Commerce Department said on Friday consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2% last month after rising by the same margin in January. Economists polled by Reuters had forecast consumer spending gaining 0.2% in February.

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