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U.S. consumer spending rises 0.6 percent in November

(Dec. 22, 2017) -- American consumers stepped up their spending last month, a good sign for the holiday shopping season, reported the Star Tribune.

WASHINGTON — American consumers stepped up their spending last month, a good sign for the holiday shopping season, reported the Star Tribune.

The Commerce Department said Friday that consumer spending rose a sharp 0.6 percent from October, outpacing a 0.3 percent increase in personal income. As a result, the savings rate fell to 2.9 percent of after-tax income in November, lowest since November 2007.

The numbers bode well for the holidays and for the overall economy: Consumer spending accounts for about 70 percent of U.S. economic output.

Read full article at the Star Tribune.

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About Ronnie Garrett

Ronnie Garrett is the editor in chief of RV Daily Report. She's been a writer/editor for more than 25 years, working in law enforcement, aviation, supply chain and now the RV industry. She's not a stranger to RVs, however. She grew up camping, and still camps as many weekends as she can every year.

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