The Commerce Department reported an increase of 0.5 percent in consumer spending in November, the largest increase in four months. This
followed a 0.4 percent increase in October.
The 0.5 percent advance in
spending marked the largest increase since July. In November, spending on durable goods such as cars and appliances jumped by 1.5 percent, the biggest gain since August 2000. November's
increase also marked a turnaround from the 1.4 percent decline in spending on durable goods recorded in October.