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Consumer Spending Could Rise After Winter Season

Americans did something unusual in January: They did not spend a lot. Many Americans saved their money despite income growth. Savings increased to 5.5% this January. The consumer report on spending for February is coming out today. Savings could elevate and spending again could be very cautious due to fluctuated gas prices at the pump and also bad weather. But with Tax refunds coming into households (which are the largest lump of cash received by many household) and the spring weather coming in, we could see a large spending increase for the consumer report in moths of March and April. Once this winter's savings surge corrects itself, Americans won't be able to squeeze their piggy banks much tighter.