Wall St wants to party

In Uncategorized on 28/04/2013 at 6:45 am

The American economy grew at just a 2.5% annual pace in the first quarter, it was reported on Friday . While that is up from a 0.4% performance in the fourth quarter of 2012, it came in below expectations for growth at or just above 3%.

But the DJ was up marginally because of the  3.2% rise in consumer spending during the first quarter is the fastest rate since the fourth quarter of 2010.   Consumer spending accounts for more than two-thirds of US economic activity and  it grew at a pace of 1.8% in the fourth quarter of last year.

Home construction also rose further keeping the market focused on looking at the bright side and not on the industrial production and employment numbers that came out earlier in the month.

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