Uploaded by FinancialNewsOnline
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.
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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