The inconsistent start to 2017 from an economic perspective may be starting to even out some as the most recent consumer spending report indicated that consumer spending increased by the most it has all year in April.
Consumer spending is the single largest driver of the U.S. economy — and the slowdown during the first three months of the year slowed GDP growth to 1.2 percent during Q1. Yesterday, the Atlanta Fed said the stronger data helped its closely-followed GDP tracker to project second-quarter growth of a robust 3.8 percent.