| Consumer spending probably rose in November as Americans set aside the threat of higher taxes next year while shopping for the holidays. Household purchases increased 0.4 percent last month after declining 0.2 percent in October, according to the median estimate from 66 economists surveyed by Bloomberg before Dec. 21 figures from the Commerce Department. Other reports may show home sales and demand for long-lasting goods climbed.
Jim O’Sullivan, chief U.S. economist for High Frequency Economics Ltd. in Valhalla, New York said: “for the household sector, the housing numbers have been quite good. The labor-market numbers are OK.”..............................................Full Article: Source
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