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LATEST US DATA

Year-end cheer as Nov consumer spending beats forecasts

But with consumption outpacing income, savings fall to lowest level in over 9 years

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US consumer spending accelerated in November amid an increase in demand for recreational goods and utilities, but the strong pace of consumption is unlikely to be sustained as savings dropped to their lowest level in more than nine years.

Washington

US consumer spending accelerated in November amid an increase in demand for recreational goods and utilities, but the strong pace of consumption is unlikely to be sustained as savings dropped to their lowest level in more than nine years.

The Commerce Department said on...

sentifi.com

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