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Americans Release Pent-Up Shopping, Healthcare Demand

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Consumer spending accounts for more than two-thirds of U.S. economic activity--and Americans are doing a lot of it these days. According to Reuters, the Commerce Department said Monday that U.S. consumer spending increased by the most in more than 9-1/2 years in March, surging 0.9 percent. Households stepped up purchases of motor vehicles and spent more on healthcare. In March, personal income ticked up 0.1 percent after rising 0.2 percent in February. Wages rose 0.4 percent in March after advancing 0.3 percent in the prior month. However, savings fell to $1.03 trillion in March from $1.16 trillion in February.

Added on the 29/04/2019 08:58:40 - Copyright : Wochit

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