Personal consumer spending weaker in December

(Jan. 31, 2012) --"Although this quarterly increase was weaker than expected, it still managed to represent a modest improvement relative to the third-quarter 2011 consumer spending increase of 1.7 percent," said Ferley. "However, we assume that strengthening labor markets at the end of 2011 will start to provide a modest boost to consumer spending in the current quarter with the pace of growth strengthening slightly to 2.5 percent."

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