Reports: Consumer Cheer, Factory Humbug

Data released Dec. 22 indicate consumers are in a positive pre-Christmas mood, but the manufacturing sector is less merry

A report on personal income and spending in November revealed a robust fourth-quarter growth path for both real (adjusted for inflation) income and consumption that is good news for U.S. gross domestic product growth. And a closely followed report on consumer sentiment tracked similar releases at historically high levels in December. However, shortfalls in the durable goods report for November took some of the shine off the income data.

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