Personal spending escalates less than predicted

Source: Bloomberg
Consumer spending grew less than expected in November as salaries decreased first time in last three months, indicating US recovery might not be as fast as previously estimated. Economists surveyed by Bloomberg forecast spending increase between 0.2% and 0.6%. Personal income added 0.1% in November. Drop in wages harmed growth in spending, said Yelena Shulyatyeva, BNP Pariba's economist in New York.

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