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U.S. Consumer Spending Down 0.3% in December

Wall Street Journal (02/02/15) Jeffrey Sparshott; Eric Morath

Consumer spending declined in December, suggesting that American households are exercising caution despite cheaper gasoline prices and strong hiring. Personal spending fell a seasonally adjusted 0.3% in December from a month earlier, according to the U.S. Department of Commerce, the first such decline since January. Personal income rose 0.3%. Economists polled by the Wall Street Journal had forecast a 0.3% decline in household spending and a 0.2% increase in personal income.