US consumer spending surged 0.9 percent in March

[Omaha Steve]

Source: AP-EXCITE

By JOSH BOAK

WASHINGTON (AP) — U.S. consumers ramped up their spending in March at the fastest pace in 4½bd} years, a sign that the economy is gaining momentum after its winter slowdown.

The Commerce Department said Thursday that consumer spending rose 0.9 percent, the largest monthly gain since April 2009. The department also revised up its estimate of the spending increase in February to 0.5 percent from 0.3 percent.

Consumers spent more on manufactured goods last month. Autos and furniture led much of the gains, according to a separate retail sales report released last month.

Income rose 0.5 percent in March after rising 0.4 percent in February.

FULL story at link.


Read more: http://apnews.excite.com/article/20140501/consumer_spending-79780ce734.html

[Glitterati]

1. Income tax refunds. Temporary at best

Easter week was nuts at my big box store.

[IronLionZion]

2. I imagine there has been some pent up demand

as people waited for big purchases to see if the job market/economy would get better first. Hopefully things are getting better. We'll see the jobs report and unemployment numbers tomorrow.