US consumer spending rises in December but incomes flat
Published on Jan 31, 2014 10:37 PM
WASHINGTON (AFP) - US consumers spent more in December, but at a slower pace from the previous month as personal incomes held unchanged, data released on Friday showed.
The Commerce Department said consumer spending rose 0.4 per cent in December, a slowdown from the 0.6 increase in November. The December pace was twice as strong as analysts expected.
But in a worrying sign for future spending, the key driver of the US economy, personal income was flat, after a slight 0.2 per cent rise in November.
Wages and salaries, the largest component of personal income, also was flat after rising 0.5 per cent in the prior month.
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