Consumer spending slows

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Consumer spending slowed in December.
The Commerce Department reported today that consumer spending rose .3% last month...
That's down a tenth of percentage point from November.
Income growth also slowed, despite a historically tight labor market.
Consumer spending is closely watched because it accounts for 70% of economic activity.
The news comes on the heels of a disappointing GDP report that showed growth of just 2.1% in the last quarter of 2019.
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