Insight: Consumer Spending Rises Amid Signs of Optimism March 2013
Consumer spending has rebounded since the end of the last recession with the latest estimates released by the US Bureau of Economic Analysis (BEA) showing that personal consumption expenditures (PCE) increased $18.2 billion, or 0.2 percent, in January 2013. While consumers pulled back on purchases of durable goods in January, expenditures on services increased by $27.9 billion, or 0.4 percent. Consumer spending accounts for roughly 70 percent of GDP in the US.
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