Consumer Spending Unchanged in March as Inflation Subsides

U.S. consumer spending was unchanged in March for a second straight month and the overall monthly inflation rate fell for the first time in a year,confirming the weak domestic demand in the first quarter.

But when adjusted for inflation consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.3 percent, ending two straight months of decline,the Commerce Department said on Monday.

Economists polled by Reuters had forecast consumer spending,rising 0.2 percent. The data was included in last Friday’s first-quarter gross domestic product report, which showed consumer spending increasing at a 0.3 percent annual rate – the slowest since the fourth quarter of 2009.

The economy grew at a 0.7 percent pace in the first quarter,the worst performance in three years.

March’s increase in real consumer spending sets it up for an acceleration in the second quarter. Consumption is likely to be supported by a pick-up in

admin

admin

Leave a Reply

Recent Posts

Trump Supporters: Get Your 2020 'Keep America Great' Shirts Now!

Are you a proud supporter of President Donald Trump?

If so, you’ll want to grab your 2020 re-election shirt now and be the first on your block to show your support for Trump 2020!

These shirts are going fast so click here to check for availability in your area!

-> CHECK AVAILABILITY HERE


More Popular Stuff for Trump Supporters!

MUST SEE: Full Color Trump Presidential Coin (limited!)

Hilarious Pro Trump 'You are Fake News' Tee Shirt!

[Exclusive] Get Your HUGE Trump 2020 Yard or House Flag!

<