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Personal spending rose less than forecast in November
Washington, D.C. -- A report released Friday by the Commerce Department showed that U.S. consumer spending edged up 0.1% in November, less than forecast and reflecting an economy that continues to struggle.
Incomes also grew 0.1% in November, the weakest in three months, after a 0.4% rise in October. The median estimate for spending in a Bloomberg News survey of economists called for a 0.3% advance.
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Consumer sentiment improves
NEW YORK — U.S. consumer confidence rose more than forecast in December, to a six-month high, amid declining unemployment and lower gas prices. The Thomson Reuters/University of Michigan consumer sentiment index climbed to 69.9 from 64.1 at the end of November. The metric averaged 89 points in the five years leading up to the recession.