Consumer Spending Rose Again In March, Highest Rate In Over 9 Years

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Consumer spending in March rose at the highest rate in close to a decade, according to data released Monday by the Commerce Department.

Spending on consumer goods rose $123.5 billion in March, a 0.9 percent increase, reflecting strength in one of the most crucial forces behind U.S. economic growth.

The increase in consumer spending was the largest in more than 9 years and after a sluggish economic end to 2018. Wages and salaries also increased 0.4 percent in March after rising 0.3 percent in February.

The increases in consumer spending and wages are the latest signs of resilience for the U.S. economy as it approaches the eleventh year of expansion after the 2008 recession. U.S. gross domestic product grew by 3.2 percent in the first quarter of 2019, blowing by expectations of slower growth to start the year.

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