US consumer spending falls in January

JC Penney cash dollars
Patrick T. Fallon | Bloomberg | Getty Images

U.S. consumer spending fell for a second straight month in January, likely as lower gasoline prices continued to weigh on receipts at service stations.

The Commerce Department said on Monday consumer spending slipped 0.2 percent after falling 0.3 percent in December.

Personal income rose 0.3 percent in the month, less than the 0.4 percent increase forecast.

CNBC contributed to this report.