Daily Economic Indicator: Consumers ramping up spending

03/30/2010 | Bloomberg

For the fifth straight month, U.S. consumer spending increased in February. Economists were right on when they collectively predicted a 0.3% gain in purchases. In January, consumer spending increased 0.4%. "As the labor market comes back, we should see continued support from consumers," said Michael Moran, Daiwa Securities America chief economist.

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