US consumer spending falls for second straight month in December
Consumer spending, which accounts for more than two-thirds of US economic activity, slipped 0.2% last month after dropping 0.7% in November
US consumer spending fell for a second straight month in December amid renewed business restrictions to slow the spread of COVID-19 and a temporary expiration of government-funded benefits for millions of unemployed Americans.
Consumer spending, which accounts for more than two-thirds of US economic activity, slipped 0.2% last month after dropping 0.7% in November. Economists polled by Reuters had forecast consumer spending decreasing 0.4% in December.
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First Published:29 Jan 2021, 07:16 PM IST
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