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US consumer spending jumps, GDP prospects brighten

from Reuters

U.S. consumer spending increased by the most in seven months in February as households shook off a rise in gasoline prices, leading economists to raise forecasts for first-quarter growth. Even with gasoline around $4 a gallon, Americans were more optimistic about the economy's prospects this month than at any other time over the past year, drawing solace from a firming labor market. more


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