Consumer Spending Surges in March

May 1, 2014  by in Economic News, Industry   

U.S. consumer spending recorded its largest increase in more than four and a half years in March, cementing views the economy ended a dismal first-quarter on solid footing.

The Commerce Department said on Thursday that consumer spending increased 0.9 percent after rising by a revised 0.5 percent in February.

March's gain was the biggest since August 2009. Spending was previously reported to have increased 0.3 in February.

Economists polled by Reuters had forecast consumer spending, which accounts for more than two-thirds of U.S. economic activity, rising 0.6 percent in March.

Read Entire Story  Source: CNBC