Consumer spending grew at a slower than expected pace in February, but underlying data showed steady growth despite inflation and economic slowdown concerns.
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00:00Consumer spending grew at a slower than expected pace for the month of February,
00:04but underlying data showed steady growth despite inflation and economic slowdown concerns.
00:10Retail sales rose two-tenths of a percent, below the six-tenths forecast,
00:14but better than January's 1.2 percent decline.
00:18Excluding autos, sales increased three-tenths of a percent, matching expectations.
00:23The control group, which reflects core spending tied to GDP, rose a stronger than expected 1 percent.