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Gallup Says Consumer's Outlook Improving; Spending Rises

The percentage of respondents to The Gallup Poll who say the economy is getting better has been improving for the past two weeks. Twenty-nine percent took an optimistic view Monday through Wednesday, which is the highest number since July 2007. Never mind that 66% continue to say the economy is getting worse; the rosier point of view signals a significant improvement in public attitudes after nearly two years of downbeat forecasts, Susan Page writes.



In fact, the percentage envisioning better times ahead has nearly doubled since March 9, when 15% said the economy was improving and 78% said it was getting worse. The increase in optimism is due to a number of forces, but No. 1 is clearly the stock market, says Sung Won Sohn, an economist at California State University-Channel Islands.



USA Today also reports that consumers increased spending for a second month in February even though their incomes slipped due to continuing layoffs. The Commerce Dept. reports that consumer spending edged up 0.2% in February, following a revised 1% jump in January that was even better than the 0.6% rise originally reported.

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