Friday, March 30, 2012

USA - Consumer Spending Rises 0.8%, More Than Expected

Uploaded by on Mar 30, 2012
The Commerce Department reported today consumer spending rose 0.8%, the largest gain in seven months. This is more than expected with the average consensus estimate around an increase of 0.6%

This brings hope that the biggest part of the economy is strengthening. However, another part of the report showed incomes advanced only 0.2%, less than the forecasted 0.4% increase by analysts.

But, factoring in all of the data, investors are still optimistic. Ten minutes after the opening bell, all major indices were up slightly, all over a quarter of a percent higher.

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