US Consumer Spending Surges, Boosts Growth Outlook

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...

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