Investing.com - U.S. consumer spending rose in line with market expectations in November, underlining optimism over the health of the economy, official data showed on Wednesday.
In a report, the Commerce Department said that personal spending inched up by a seasonally adjusted 0.3% last month, meeting forecasts. Personal spending for October was revised down to a flat reading from a previously reported gain of 0.1%.
Consumer spending is the single biggest source of U.S. economic growth, accounting for as much as two-thirds of economic activity.
The figure, which was to be made public at 8:30AM ET Wednesday along with the agency's report on personal income, was released early on the Bureau of Economic Analysis' website.
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