U.S. Consumer Spending Rose in December

WASHINGTON (Reuters) — Consumer spending in the United States rose more than expected in December to post a sixth consecutive month of gains as households drew down on their savings to finance purchases, government data showed on Monday. The Commerce Department said spending increased 0.7 percent after rising by 0.3 percent in November. Economists polled by Reuters had expected spending, which accounts for about 70 percent of economic activity in the United States, to increase 0.5 percent last month. The spending figures were included in the government’s fourth-quarter gross domestic product report released on Friday, which showed the economy grew at a 3.2 percent pace on the…

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U.S. Consumer Spending Rose in December

Posted by on January 31, 2011. Filed under News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry