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Consumer Spending in U.S. Rose Less Than Forecast in February
Consumer purchases rose less than projected in February, indicating the biggest part of the U.S. economy will find it hard to sustain momentum after the best quarter since 2006. The 0.1 percent gain followed a 0.2 percent drop the prior month, Commerce Department figures showed Monday in Washington. The median forecast of 74 economists in a Bloomberg survey called for a 0.2 percent gain. Adjusted for inflation, spending declined for the first time in almost a year. Frigid temperatures and snow in much of the Northeast and Midwest last month emptied malls and auto-dealer lots as Americans huddled at home to keep warm. ... (full story)
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"The meek shall inherit the earth.." Yeah right, good luck with that shit..