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VOL. 43 | NO. 51 | Friday, December 20, 2019

US consumer spending up 0.4% in November, best since July

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WASHINGTON (AP) — Americans increased their spending in November at the fastest pace in four months, and income growth rebounded to its strongest gain since August.

The Commerce Department said Friday that consumer spending rose at a 0.4% annual rate last month, led by a jump in spending on durable goods like autos. It was up from a more modest annual gain of 0.3% in October, and it was the best showing since July.

Incomes rose 0.5% in November after a weak 0.1% reading in October, reflecting a surge in hiring last month in which employers added 266,000 jobs, the most since January.

Economists are expecting consumer spending, which accounts for about 70% of economic activity, to remain solid in the final three months of the year to support continued moderate economic growth. They are forecasting growth of around 2% in the current October-December quarter, similar to the 2.1% gain of the third quarter.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0