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Consumer Spending Sees Biggest Gain In 2 Years

First Posted: 03/28/08 03:45 AM ET Updated: 05/25/11 01:20 PM ET

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Washington Post:

The housing market is tanking, the credit markets are in crisis, and economists fear that a recession could be on the way -- but in November at least, that wasn't enough to slow down the American consumer.

Personal spending rose 1.1 percent last month, the biggest gain in two years, the Commerce Department reported yesterday. Disposable personal income rose only 0.3 percent in November, meaning that on average, families either withdrew savings or took on more debt to buy goods and services.

Read the whole story: Washington Post

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Filed by Nicholas Sabloff  |