Consumer Spending Deteriorates Further

The current recession in economic activity continues to intensify its negative effect on consumer spending. A Commerce Department report released Monday showed consumer spending decreased $102.4 billion, or 1.0% in December, after dropping a revised $77.8 billion, or 0.8% in November. That was slightly worse than the 0.9% decline economists expected. Personal consumption expenditures [PCE], [...]
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