Economic Outlook Is Cautious Even With Spending Up
(Associated Press) — Factories are churning out more goods. Consumers are spending. Government aid is fueling construction activity. But stagnant pay and weak hiring will likely restrain the economic rebound in coming months. That cautionary picture emerged from a series of economic reports Monday.Consumers stepped up their spending in March by the largest amount in five months. Yet the increase was financed out of savings. Incomes rose only slightly. Unless employers boost pay and ramp up hiring, economists say consumer spending will likely taper off and dampen the recovery.
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