Consumer Spending Rises for Third Month

Consumer personal spending rose 0.2% in December, the third straight increase, the Commerce Department said Monday.

The uptick followed a revised 0.7% gain in December that was greater than originally reported. Personal incomes rose 0.4%.

Economists had forecast spending and incomes to rise 0.3%, Bloomberg reported.

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