Tax cuts have lowered utility rates this year, leading Americans to spend less on gas, water, and electricity. With incomes rising, this has helped push up the saving rate.
A bigger pullback in consumer spending brought first-quarter economic growth down to just 2 percent. The good news? The economy appears to have accelerated by a lot in recent months.
Israel‘s economy grew an annualized 4.5 percent in the first quarter of 2018, faster than previously thought, boosted by gains in consumer spending, investment and export, the Central Bureau of Statistics said in a second estimate.
