Consumer Spending in U.S. Jumps by Most in Almost Five Years.

[Azforex]

Consumer spending surged in March by the most in almost five years as warmer weather brought shoppers back to auto-dealer lots and malls, a sign theU.S. economy gained momentum heading into the second quarter. Household purchases, which account for about 70 percent of the economy, climbed 0.9 percent, the most since August 2009, after a 0.5 percent gain in February that was larger than previously estimated, Commerce Department figures showed today in Washington. The median forecast of 77 economists in a Bloomberg survey called for a 0.6 percent gain. Incomes increased by the most in seven months. Continued gains in employment will probably lift consumer confidence and give households the means to spend after usually harsh winter weather held back the world’s largest economy. Companies such as Whirlpool Corp. (WHR) are optimistic that stronger growth will boost sales in the coming months, providing a firm footing for growth in the second quarter.