1-1/4 cups sugar
1/4 cup vegetable oil
3 eggs
1 cup light honey, warmed
1 cup warm water
3 cups flour
2 teaspoons baking powder
1 teaspoon baking soda
1/2 teaspoon each: ground cinnamon, ground nutmeg
Confectioners' sugar, optional

Heat oven to 325 degrees. Combine sugar, oil, eggs, honey and water in a large mixing bowl; beat with an electric mixer. Mix flour, baking powder, baking soda, cinnamon and nutmeg in a separate bowl.

Add dry mixture to liquid ingredients. Mix well. Batter will be quite thin. Transfer batter to a greased 13-by-9-inch baking pan; bake until tester comes out clean, 45 to 50 minutes.(Or use a 10-inch tube pan and bake about 1 hour.) Cover loosely with foil if top becomes too brown while baking. Cool. Sprinkle with confectioners' sugar before serving.