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Consumer spending rose by the most in three months in December, according to the Commerce Department.
Personal spending rose by 0.5% month-over-month inDecember, in line with economists’ expectations, according to the Bloomberg consensus.
The prior month saw an increase of 0.2%.
The core PCE price index rose by 0.1% month-over-month in December, also in line with expectations.
However, personal incomes rose by 0.3% month-over-month, below expectations of 0.4%.