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U.S. Consumer Spending Jumps 4.2% In March

U.S. Gross Domestic Product was also up 6.4 percent in the first three months of this year, furthering signs of a recovering economy.

U.S. Consumer Spending Jumps 4.2% In March
Robert F. Bukaty / AP
Jay Strubberg
By Jay Strubberg
SMS
Posted: 4:22 p.m. EDT Apr 30, 2021

U.S. consumer spending jumped 4.2 percent last month; encouraging news as the country tries to bounce back from COVID's economic impacts.

The Gross Domestic Product – which is the total value of goods and services made – also increased at an annualized rate of 6.4 percent in the first quarter.

This after states rolled back restrictions and the vaccination effort ramped up. 

Plus, that $1,400 relief check most people got may have incentivized more spending outside of necessities.