Consumers spent more in March, showing American households are absorbing high inflation and are positioned to propel the economy heading into the spring and summer.
Personal-consumption expenditures increased a seasonally adjusted 1.1% in March from the prior month, the Commerce Department said Friday. Adjusting for inflation, consumer spending rose 0.2% last month, driven by higher services spending. Household spending also rose at a faster rate than inflation from a year earlier.
