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PNC BANK: SOLID FEBRUARY GAINS IN CONSUMER SPENDING

 PITTSBURGH, March 29 /PRNewswire/ -- The Department of Commerce/Bureau of Economic Analysis, today released the February income and spending figures for the nation.
 Personal income rose .2 percent in February and consumer spending, which represents two-thirds of total spending in the economy, rose .6 percent.
 According to Stuart Hoffman, PNC Bank's chief economist:
 -- "The February figures reflect a solid gain in consumer spending, which confirms that the economic expansion is firmly in place."
 -- "Although consumers tell pollsters that they are downbeat about the economy, they are spending more freely. Fortunately for retailers, actions speak louder than words."
 -- "Consumer income is growing strong enough to support higher spending. This reflects the recent improvement in the job market."
 /delval/
 -0- 3/29/93
 /CONTACT: Cindy Jergan of Ketchum Public Relations, 412-456-3584, for PNC Bank/
 (PNC)


CO: PNC Bank ST: Pennsylvania IN: FIN SU: ECO

CD-KC -- PG010 -- 0477 03/29/93 11:32 EST
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Publication:PR Newswire
Date:Mar 29, 1993
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