From Home Furnishing Business
Consumer Spending Rises in December
2014 by in Economic News, Industry
The U.S. Department of Commerce reported today that consumer spending rose 0.4 percent in December 2013 compared with the same prior-year month.
That increase outpaced personal income growth of less than 0.1 percent, and came despite a drop of 0.1 percent in disposable personal income, according to numbers from the Department's Bureau of Economic Analysis.
That follows a revised estimate of a 0.6 percent increase in spending in November, when personal income increased $29.8 billion, or 0.2 percent; and disposable income rose $14.4 billion, or 0.1 percent.
Real disposable personal income decreased 0.2 percent in December, in contrast to an increase of 0.1 percent in November.