Despite surging inflation, U.S. consumer spending has remained strong - which could help the U.S. avoid a recession.
- According to the Commerce Department, consumer spending was up 1.1% in the month of March, nearly doubling the projected increase.
- Demand remains high for restaurants, hotels, and recreation. Healthcare spending also went up.
- Spending on consumer goods also increased, but mostly due to spiking gas and food prices.
- How have you changed your spending habits in the last couple of months?
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