Personal spending rose 0.2% in December as incomes rose by the most in eight years, the Commerce Department said Thursday.
The upturn followed a 0.4% gain in November and was lower than economists’ median estimate of a 0.3% increase, Bloomberg News reported.
Personal incomes jumped 2.6%, more than three timesÌýeconomists’ median estimate, Bloomberg said.
A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.
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