Consumer Spending Up Moderately, Jobless Claims Fall

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Consumers increased spending moderately in November even though the growth in their incomes slowed a bit, raising doubts about how strong the Christmas sales season will be.


The Commerce Department said personal spending rose by 0.3 percent last month, slightly below the 0.4 percent gain that Wall Street had been expecting. Incomes rose by 0.3 percent last month, right in line with expectations.


In other economic news, the number of Americans filing new claims for unemployment benefits fell to a seasonally adjusted 318,000 last week, down by a better-than-expected 13,000 from the previous week.


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