Personal Spending Rises 0.7% in December

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Consumer personal spending rose in December by the most in five months and personal incomes also rose, the Commerce Department said Thursday.The 0.7% increase in personal spending followed a 0.5% gain in November. Personal incomes rose 0.5%, the most in three months, Commerce said.The spending increase matched economists’ forecasts, Bloomberg reported.An increase in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.