Bloomberg (03/03/14) Shobhana Chandra
U.S. consumer spending rose 0.4% in January, up from a downwardly revised 0.1% in December, according to the U.S. Department of Commerce. Consumer spending accounts for 70% of the U.S. economy. Economists surveyed by Bloomberg had forecast a rise of 0.1%. Hiring improvements and increasing housing prices likely will drive consumer spending growth in the future.
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