date:Apr 01, 2013
he same margin in January. As a result, economists said consumer spending in the first quarter was on track to record its fastest growth pace since 2010.
It appears that consumer spending actually accelerated in the first quarter despite the tax hikes implemented at the start of the year, said Daniel Silver, an economist at JPMorgan in New York.
Some economists bumped up their first-quarter economic growth estimates.
Barclays raised its gross domestic product forecast by 0.7 percentage point