Consumption Slowed in December As Inflation Stayed Above Fed Target

31 Jan, 2008  Stiri, informatii

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1043964_money_man.jpgBy Jeff Bater

Wall Street Journal

WASHINGTON -- Consumer spending grew during December but the increase was much smaller than the surge in the prior month, while income accelerated.
Consumer spending makes up about 70% of U.S. economic activity. Adjusted for inflation, consumer spending in December was flat, according to Thursday's report on income and spending. The data revealed a price index for personal consumption expenditures rose 0.2% in December compared to the prior month. The PCE price index excluding food and energy, or core PCE, also rose 0.2%.
Personal consumption climbed by 0.2% compared to the month before, the Commerce Department said Thursday

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