Strength in consumer spending might not be as it looks

05/6/2009 | Forbes

It was a 2.2% uptick in consumer spending that prevented economic troubles in the U.S. from getting worse in the first quarter of this year. However, the consumer economy's apparent strength is misleading because it was fueled by lower taxes and transfer payments from the government, said Michael Feroli, a senior economist at JPMorgan Chase.

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