Americans spent a lot more money in March, mostly due to increased healthcare costs and automobile purchases.
In the latest data released by the US Commerce Department Monday, consumer spending increased 0.9 percent, the highest increase in nearly a decade.
The cash flow from our wallets followed a 0.1 percent increase in February and 0.3 bump in January. First quarter spending was up 1.2 percent and the overall economy grew 3.2 percent.
The data suggests consumer spending will accelerate in the second quarter of 2019, Reuters reports.
Source: https://www.reuters.com/article/us-usa-economy-idUSKCN1S516T
