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Consumer Spending Grows in November

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12/23/2010 9:15:00 AM

Consumer personal spending increased in November for the fifth consecutive month, the Commerce Department said Thursday.

The 0.4 gain was slightly smaller than economists’ forecasts of a 0.5% increase, Bloomberg reported.

Personal incomes grew 0.1% after a 0.5% increase in October, Commerce said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.

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