Originally posted by the Voice of America.
Voice of America content is produced by the Voice of America,
a United States federal government-sponsored entity, and is in
the public domain.


    April 16, 2012

US Consumer Spending Advanced in March

   VOA News
   A gas station attendant raises gas prices on a display at Mobil gas
   station in Chicago, April 6, 2012.
   Photo: AP
   A gas station attendant raises gas prices on a display at Mobil gas
   station in Chicago, April 6, 2012.

   U.S. retail spending increased at a solid pace in March, an indication
   that consumer confidence is growing even as gasoline prices remain
   high.
   Consumer spending drives about 70 percent of the U.S. economy, the
   world's largest. The government said Monday that retail sales advanced
   0.8 percent last month, faster than economists had projected, but
   slightly less than the 1 percent gain in February.
   The U.S. said its consumers spent more on home improvements, cars,
   electronics, furniture and clothing, as well as paying more for
   gasoline. Gas prices in the U.S. have risen to more than $1 a liter
   ($3.90 a gallon), which is less than in many other countries, but high
   by U.S. standards.
   The increased consumer spending could signal that the American economy
   is growing at a faster pace than earlier predictions. It grew 3 percent
   in the last quarter of 2011. Some economists had projected slower
   growth in the January-to-March period this year. But some now think the
   early 2012 pace may come close to matching the end-of-year growth last
   year.

   Some information for this report was provided by AP and Reuters.

.