News
1 May 2012

US economic recovery continues

The US economic recovery has shown signs of continuing with a 0.3% increase in consumer spending in March

The Commerce Department report also showed that personal incomes rose 0.4%.

Consumer spending accounts for 70% of economic activity in the US.

The spending increase has been linked to falling unemployment and relatively warm weather this year.

Spending for Feburary was revised from an increase of 0.8% to 0.9%.

In contrast, the UK has fallen back into a technical recession, after figures last week showed a contraction in GDP for the last quarter.

 

Helen Roxburgh

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