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Consumer spending index stabilizes in November


NEW YORK The Deloitte Research Leading Index of Consumer Spending remained unchanged at 0.10% in November, primarily due to the drop in gasoline prices and the resulting rise in real wages.

"While home prices remain depressed, real wages rose in the most recent month due to the sharp fall in gasoline prices," said Carl Steidtmann, chief economist with Deloitte Research, a subsidiary of Deloitte Services LP, and author of the monthly Index. "Real disposable income was up 1% in October and, with energy prices down even more in November, consumer purchasing power is increasing. However, the deterioration in the labor market continues to be a key concern."

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