"Consumers are spending a little bit more aggressively"
- Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC
U.S. consumer spending increased more than expected in February, a sign the economy is strengthening. Purchases advanced 0.8 per cent from the previous month, after climbing 0.4 per cent in January.
"Consumers are spending a little bit more aggressively," said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia.
"Consumers simply aren't saving enough to sustain spending in the long run."
"So long as the consumer is spending, that's the biggie everyone is watching as they drive the economy. The economy is on a decent trajectory, but maybe not as strong as some would like," said Wayne Kaufman, chief market analyst at John Thomas Financial in New York.
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