Consumer spending in the U.S. rose more than projected in March, reflecting a jump in outlays for services that is unlikely to be repeated as the biggest part of the economy softens this quarter.
Household purchases, which account for about 70 percent of the economy, climbed 0.2 percent after a 0.7 percent gain the prior month, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 74 economists called for spending to be little changed. Incomes increased less than forecast and inflation cooled to the lowest level in more than three years.
via Bloomberg
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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