Well, good that the consumers are covering their own healthcare expenses and dumping less of them on DC. I would say good.
(Reuters) - U.S. economic growth for the fourth quarter is likely to be revised higher after data on Wednesday showed a more robust pace of consumer spending than previously estimated.
The Commerce Department's quarterly services survey, or QSS, showed consumption, including healthcare spending, increased at a faster clip than the government had assumed in its second estimate of gross domestic product published last month.
Economists said the data suggested fourth-quarter consumer spending could be raised by at least six-tenths of a percentage point to a 4.9 percent annual rate when the government publishes its third GDP estimate later this month.
"That would be the strongest quarter for consumption since 2003. A stronger trend for consumption could carry over into the first quarter, but we want to see the monthly details before changing our views on first-quarter growth very much," said Daniel Silver, an economist at JPMorgan in New York.
Wednesday, March 11, 2015
Good news?
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