Economics
Consumer Spending in U.S. Increases as Incomes Rise
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Consumer spending in the U.S. climbed in March after the biggest gain since August 2009, and incomes picked up, indicating the biggest part of the economy will help sustain the expansion.
Household purchases, which account for about 70 percent of the economy, increased 0.3 percent, after a revised 0.9 percent gain the prior month that was stronger than first reported, Commerce Department figures showed today in Washington. The median estimate of 72 economists surveyed by Bloomberg News called for a 0.4 percent rise. Incomes advanced 0.4 percent, the most in three months, and the savings rate rose.