You read the title correctly. In fact, household spending increased 2x the amount analysts expected, +1.3% in Feb. And, industrial production declined less-than-expected. The unemployment rate held steady at 4%, for the fourth consecutive month. Unfortunately, we aren’t seeing the wage growth that is necessary for consumer spending to really take off and pick up slack for any slowing of exports as the U.S. appears to be down-shifting and Beijing continues its rhetoric of trying to prevent over-investment. Still, the data is positive. Something to pay attention to here, aside from the obvious (that being Monday’s BoJ tankan) is oil prices, which are creeping up. Lower prices were cited for price weakness, but renewed strength in consumption. What will higher prices bring? [See Bloomberg’s coverage for more details.]