U.S. Consumer Spending, Incomes Probably Increased in December

Consumer spending in the U.S. probably accelerated in December, capping its strongest quarter in more than four years, economists said before a report today.

Purchases, which account for about 70 percent of the economy, rose 0.5 percent after a 0.4 percent gain in November, according to the median estimate of 58 economists surveyed by Bloomberg News. Incomes grew for a third month, and inflation remained below the Federal Reserve’s long-term forecast.