Consumer spending in the U.S. rose more than projected in March, reflecting a jump in outlays for services that is unlikely to be repeated as the biggest part of the economy softens this quarter.
Household purchases, which account for about 70 percent of the economy, climbed 0.2 percent after a 0.7 percent gain the prior month, a Commerce Department report showed today in Washington. The median estimate in a Bloomberg survey of 74 economists called for spending to be little changed. Incomes increased less than forecast and inflation cooled to the lowest level in more than three years.
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