May
06
Have you been opening your wallet and dipping into your savings lately? A new government report shows that recent jumps in spending rates isn’t so bad after all, and in fact, is helping our economy.
A government report confirms robust spending growth for the sixth straight month, up 0.6% in the month of March. Retail sales also rose 1.6% in March, the highest number in the past months. This marks consumer spending at a three-year high, and with consumer spending making up about 70% of the U.S. economic acsavtivity, these numbers signal recovery. Growth in consumer confidence and spending means more hopeful signs of an economy getting back on its feet. <