Personal Spending Rises at Slowest Pace in Six Months

Consumer personal spending rose at a rate of 0.2% in November, the slowest in six months, the Commerce Department said Thursday.

The gain followed a revised 1% increase in October.

Personal incomes rose 0.5% following a 0.4% gain the previous month, Commerce said.

The spending gain was higher than economists’ forecasts of a 0.1% increase, Bloomberg reported.

Personal spending for the full year rose 2.9%, the lowest in four years.

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