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Economic Report: Consumer spending jumps in March while core inflation moderates

Bloomberg News/Landov
Monitors display stock market information as pedestrians are reflected in a window at the Nasdaq MarketSite in the Times Square area of New York.

The numbers: Consumer spending surged in March while core inflation weakened, government figures show.

Spending jumped 0.9% in March after a 0.1% gain in February. This was the largest monthly gain in almost ten years.

The closely followed PCE inflation was flat in March, knocking the yearly rate down to 1.6% from 1.7%. This is the lowest rate since September 2017.

Personal incomes, meanwhile, increased 0.1% in March.

Economists surveyed by MarketWatch had been expecting a 0.8% gain in consumer spending and a 0.4% gain in income.

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