Salient to Investors:
Economists are projecting consumer spending rose at the fastest pace in 2 years in Q1 and to slow to a 1.8 percent pace in Q2.
Ellen Zentner at Nomura Securities Intl said households are making the difficult spending choices – there is no steam going into Q2.
Ian Shepherdson at Pantheon Macroeconomic Advisors said the payroll tax increase is hurting and expects Q2 spending to rise at a much slower pace.
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