U.S. consumer spending rose less than forecast in February even as wage growth improved, according to government data that also showed inflation reached the Federal Reserve's goal for the first time in almost five years.


The figures are consistent with projections of softer consumer spending in the first quarter, partly due to smaller outlays for household utilities amid milder weather. The slowdown may prove temporary because of steady hiring, cheap financing and a surge in household optimism.

This is not a good combination.

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