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January 31, 2013 8:45 AM, EST
Personal Spending Rises in December

Personal spending rose 0.2% in December as incomes rose by the most in eight years, the Commerce Department said Thursday.

The upturn followed a 0.4% gain in November and was lower than economists’ median estimate of a 0.3% increase, Bloomberg News reported.

Personal incomes jumped 2.6%, more than three times economists’ median estimate, Bloomberg said.

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.