Growth Slows in Consumer Spending
04/29/2011
The rise in spending corresponds to a slight increase in Americans' income. Personal income rose in March by 0.5 percent, above expectations of a 0.3 percent gain.
"Consumers continue to growth their spending despite rapidly rising gasoline prices and confidence that has suffered since gasoline prices started rising," said Scott Hoyt at Moody's Analytics. "That said, real spending growth was modest, lagging its fourth-quarter pace in both March and the first quarter as a whole."
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