Consumer spending rises

Friday, April 30, 2004 | 9:04 a.m.

WASHINGTON -- Consumers spent modestly in March, helping the economy log solid growth in the last quarter.

The Commerce Department reported today that consumers boosted their spending by 0.4 percent last month. That followed another 0.4 percent increase in February, according to revised figures. February's increase was double the 0.2 percent advance reported a month ago.

Americans' incomes, meanwhile, also rose solidly in March, increasing by 0.4 percent. That came on top of a 0.5 percent gain in February. The increase was encouraging because income growth is a main factor in people's willingness to spend in the future, economists say.

archive