Consumer spending climbs 0.6% in November

Consumer spending climbs 0.6% in November .

Consumer spending in the U.S. rose 0.6% in November, the fastest pace in three months, the government reported Tuesday. Economists polled by MarketWatch had expected a 0.5% increase, compared with an original estimate of 0.2% growth in October. On Tuesday the U.S. Commerce Department revised consumer spending in October to an increase of 0.3%. Meanwhile, personal income rose 0.4% in November, the fastest growth in five months. Economists had expected an increase of 0.5%, compared with an originally reported gain of 0.2% in October. On Tuesday the government revised October’s growth for personal income to 0.3%. Inflation, as measured by an index for personal consumption expenditures, fell 0.2% last month, as energy prices dropped. The core inflation index, which excludes food and energy, was unchanged in November. Over the past 12 months, the broad PCE index rose 1.2%, while the core gauge grew 1.4%.

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