Consumer spending up 0.5% in November

[WASHINGTON] US consumer spending posted its largest increase in five months in November, the latest suggestion of sustained strength in the economy as the year winds down.

Adding to this good news was consumer sentiment which rose to its strongest in five months in December as Americans' outlook on the economy and job prospects improved.

The Commerce Department said on Monday consumer spending rose 0.5 per cent after advancing by a revised 0.4 per cent in October. It was the seventh straight month of increases and matched economists' expectations.