Beat margarine and sugar in a mixer bowl till blended. Beat in egg, milk, and vanilla. Stir in carrot. Combine flour, baking powder, cinnamon, salt, and nutmeg in another bowl. Add to carrot mixture; stir till blended. Spray an 8x8x2-inch baking pan with nonstick spray coating. Pour batter evenly into pan. Bake in a 350° oven for 20 to 25 minutes or till a toothpick inserted near center of cake comes out clean. Cool in pan on wire rack for 10 minutes. Remove cake from pan and cool completely. Place a paper doily on top of the cake. Lightly sift the powdered sugar evenly over the doily. Carefully remove the doily. Makes 9 servings. Nutrition information per serving: 149 cal. (35% from fat), 2 g pro., 22 g carbo., 6 g fat (1 g sat. fat), 24 mg cholesterol, 148 mg sodium, 55 mg potassium, 1 g dietary fiber. Food exchanges: 1 bread, 1 fat. dess103