There's More Than One Way To Turn On The Spending TapKaren Pennar
Early tax refunds may have boosted consumer spending early in the year. Something else likely to have given spending a lift, say economists at Goldman, Sachs & Co., was a sudden increase in federal benefit outlays. For the three months ended February, Veterans Benefits Administration and Veterans Health Administration spending surged 11.5% over outlays a year earlier. This outsize gain should be viewed as temporary, and consumers may revert to more "cautious" spending behavior, predict Goldman Sachs economists.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Getting a Dog May Save Your Life, Especially If You’re Single
- The Questionable Math Behind Manafort’s Extravagant Home Renovations
- World’s Biggest Wealth Fund Wants Out of Oil and Gas