Personal Spending in U.S. Rises Less Than Forecast: Economy
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Consumer purchases rose less than forecast in November as a drop in wages encouraged Americans to seek discounted merchandise at the start of the holiday shopping season.
Personal spending climbed 0.1 percent for a second month, while wages and salaries fell 0.1 percent from October, Commerce Department data showed today in Washington. Durable goods orders jumped 3.8 percent in November as a surge in aircraft bookings masked a drop in demand for business equipment.