US consumer spending fell by the most in 10 months in February as a cold snap gripped many parts of the country and the boost from a second round of stimulus checks to middle- and lower-income households faded. But the drop in consumer spending, the biggest since mandatory shutdowns of nonessential businesses like restaurants last April to slow the spread of Covid-19, is seen as temporary. The economy is poised to log its best performance in 37 years, thanks to the White House’s massive $1.9tn pandemic relief package and increased vaccinations against the coronavirus. “The February pullback in income and spending is only a temporary blip,” said Gregory Daco, chief US economist at Oxford Eco
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