Rising US Consumer Spending Boosts Economy

The consumer spending that powers most U.S. econometric activity jumped a strong one percent in April, the biggest gain in about six years. Tuesday's report from the Commerce Department says the gains were due to increases in purchases of cars and other expensive, long-lasting goods. PNC Bank Chief Economists Stuart Hoffman calls the report "good news" for economic growth in April, May, and June. He also predicts that inflation will rise a bit this year. New data also...

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