Higher utility bills drive gain in U.S. consumer spending

04/29/2013 | Reuters · eCreditDaily.com

Unusually cold weather that boosted utility bills led to a 0.2% increase in consumer spending in March, down from February's 0.7% increase, the Commerce Department says. "Utilities made up a pretty decent chunk of spending," said Ryan Sweet, senior economist at Moody's Analytics. "When you extract from that, spending was less than impressive in March. The economy is slowing."

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Reuters · eCreditDaily.com

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