The American consumer is spending more than it is bringing in.
Personal income climbed by 0.4% in November, which was right in line with economists’ expectations.
Personal spending grew by 0.6%, which was a bit stronger than the 0.5% expected.
“We suspect that stronger real consumer spending data will help support Q4 growth momentum despite potentially weaker investment activity hinted at by the weaker durable goods orders report earlier this morning,” TD Securities Gennadiy Goldberg said.
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