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5/1/2014 8:50:00 AM Write a Letter to the Editor Write a letter to the Editor

Consumer Spending Rises by Most Since 2009

Daniel Acker/Bloomberg News

Personal spending rose 0.9% in March, the most since August 2009, the Commerce Department reported May 1.

The rise in consumer spending, which accounts for about 70% of the economy, topped economists’ forecast of a 0.6% increase, Bloomberg News reported.

February’s increase was revised up to 0.5% from an originally reported 0.3% gain.

Incomes gained 0.5%, the most since August, topping economists’ 0.4% forecast.

Spending on durable goods surged 2.7 % after adjusting for inflation, the biggest gain in four years, following a 1.3 % increase in February. Purchases of nondurable goods rose 0.9%.

By Bloomberg News

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