the story and the stats keep showing improvement. What does this mean? It means that the facts don’t lie. Consumer spending is one the important measures of our economy. Other good indicators are unemployment and consumer confidence. All of these are stronger than they were following the economic crash and recession.
U.S. consumer spending recorded its biggest increase in more than six years in April, and spending is likely to remain supported by strong gains in house prices, as well as a strengthening labor market, which is steadily pushing up wages. The Commerce Department said consumer spending, which accounts for more than two-thirds of U.S. economic activity, surged 1.0 percent last month as households bought a range of goods and services. The strong consumer spending report joined data on goods exports, industrial production, housing starts, and home sales in suggesting the economy was regaining momentum after growing at a lackluster 0.8 percent annualized rate in the first quarter.