Americans spent at the fastest pace in three years during the first quarter, indicating they are becoming less dependent on government stimulus that’s waning as the world’s largest economy recovers.
Purchases by households rose at a 3.6 percent pace from January through March, exceeding the median forecast of economists surveyed by Bloomberg News, Commerce Department figures showed today. The increase helped the economy expand at a 3.2 percent annual rate, capping the best six-month performance since the second half of 2003.
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Manufacturing grows at fastest rate since 2004
By Annalyn Censky, staff reporterApril 1, 2010: 10:49 AM ET
NEW YORK (CNNMoney.com) -- Manufacturing activity grew for the eighth straight month in March, at the fastest rates since July 2004, according to a report Thursday.
The Tempe, Ariz.-based Institute for Supply Management's (ISM) manufacturing index rose to 59.6 in March from the February reading of 56.5. Economists surveyed by Briefing.com were expecting a reading of 57.
By Annalyn Censky, staff reporterApril 1, 2010: 10:49 AM ET
NEW YORK (CNNMoney.com) -- Manufacturing activity grew for the eighth straight month in March, at the fastest rates since July 2004, according to a report Thursday.
The Tempe, Ariz.-based Institute for Supply Management's (ISM) manufacturing index rose to 59.6 in March from the February reading of 56.5. Economists surveyed by Briefing.com were expecting a reading of 57.
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