Consumer Spending Rises in December

Consumer personal spending increased in December for the sixth consecutive month, the Commerce Department said Monday.

The 0.7% gain was higher than economists’ forecasts of a 0.5% increase, Bloomberg reported.

The final three months of 2010 were the strongest quarter in more than four years for personal spending.

Personal incomes grew 0.4%, the same increase it saw in November, Commerce said.

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