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U.S. personal spending rises 0.3% in November

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Investing.com -

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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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