A decline in wages contributed to a weaker-than-expected consumer spending total for November. For the month, purchases rose a scant 0.1 percent compared to an earlier forecast of a 0.3 percent increase.
Ã¢â‚¬Å“In the absence of a significant pickup in income, we wonÃ¢â‚¬â„¢t see a big boost in spending,Ã¢â‚¬Â said Yelena Shulyatyeva, an economist at BNP Paribas in New York. Ã¢â‚¬Å“The momentum will slow in the fourth quarter, but the economy is still growing.Ã¢â‚¬Â
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