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Consumer Spending Increase In October

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News video: Consumer Spending Increase In October

As households took advantage of rising incomes to boost savings, U.S.

consumer spending increased less than expected in October.

Consumers spending remained sufficiently strong to support economic growth in the fourth quarter.

On Wednesday, the Commerce Department said consumer spending, which accounts for about 70 percent of U.S. economic activity, increased 0.3 percent after an upwardly revised 0.7 percent gain in September..

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