Americans are making more money, but saving it

Snow storms and cold weather kept many people home last month

Photo Credit: MGN Online

NORTHAMPTON, Mass. (WWLP) – Many Americans took home bigger paychecks last month, but with all that snow and cold temperatures, it seems it kept a lot people from spending that money.

Snow storms and cold weather kept many people home last month, but some businesses in Northampton actually did pretty well.

On Monday, the Commerce Department said consumer spending increased slightly in February, but income grew even faster. That means many people decided to save their money instead of spend it.

Economists are blaming the harsh winter for keeping people indoors, but some Northampton restaurants actually saw more customers than usual.

“It was actually pretty busy, we did have a lot of snow storms but luckily we stayed open most of the time,” said Mariha Griffin from the Haymarket Café. “We were actually like a haven for a lot of people stuck in the snow. I think we got a lot of business from all the other places that had to close.”

Most American restaurants saw their sales fall in February, and so did many electronics and appliance stores.

The good news is, job growth is expected to continue through 2015, which could persuade many people to start spending again.

Comments are closed.