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U.S. consumer spending to grow 0.1% in November
A government report said on Friday that U.S. consumer spending rose less than expected in November, because the growth of the tiny entry form pressure on the budgets of families, which predicts a slowdown in demand growth.
The Commerce Department said that consumer spending rose 0.1 percent after rising by the same percentage in October.
Analysts had predicted in a Reuters poll that consumer spending, which accounts for two thirds of U.S. economic activity rose 0.3 percent last month.
Adjusted for inflation, consumer spending rose 0.2 percent last month after rising at the same rate in October. The government on Thursday revised downward the growth of consumer spending in the third quarter of the year to an annual rate of 1.7 percent from 2.3 percent due to recession spending in hospitals.
A government report said on Friday that U.S. consumer spending rose less than expected in November, because the growth of the tiny entry form pressure on the budgets of families, which predicts a slowdown in demand growth.
The Commerce Department said that consumer spending rose 0.1 percent after rising by the same percentage in October.
Analysts had predicted in a Reuters poll that consumer spending, which accounts for two thirds of U.S. economic activity rose 0.3 percent last month.
Adjusted for inflation, consumer spending rose 0.2 percent last month after rising at the same rate in October. The government on Thursday revised downward the growth of consumer spending in the third quarter of the year to an annual rate of 1.7 percent from 2.3 percent due to recession spending in hospitals.
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