The U.S. economy expanded at a
2.5 percent pace in the first three months of 2013, up from 0.4 percent in the
previous quarter, as consumer spending rose at the fastest rate in two years
and businesses restocked warehouse shelves, according to a report today from
the U.S. Department of Commerce, MarketWatch
reported. Consumer spending rose 3.2 percent to mark the
sharpest gain since the end of 2010, though some of the increase was the result
of higher oil prices.