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		Home Page Consumers still spending in Dec.; savings rate falls WASHINGTON (AP) — Consumers kept the nation's cash registers busy in December, boosting their spending by a healthy 0.4% in a fresh sign that the economy's recovery has solid legs. The over-the-month increase reported by the Commerce Department Monday followed a brisk 0.5% rise in consumer spending for November — even better than the government previously estimated. Analysts had been expecting a 0.5% gain. Adjusted for inflation, spending rose just 0.2%. The latest snapshot of consumers' spending appetite showed that 2003 ended on a good note. Consumers spent at a solid clip in both November and December — an improvement from the prior two months when their spending was flat. Americans' incomes, meanwhile, rose modest 0.2% in December, following a 0.3% rise the month before. That was in line with expectations. The personal saving rate dipped to 1.3% in December from 1.5% in November, marking the lowest rate since December 2002. Consumers, whose spending accounts for roughly two-thirds of all economic activity in the United States, have been buying at a sufficient pace to keep the economic recovery rolling along. On Friday, Commerce said economic growth slowed to a 4% annual rate in the final quarter of last year. That report incorporated the latest data on personal income and spending. Contributing: Reuters Back to Original Article: Mortgage News You Can Use   Continue with: Factory growth at 20-year high in Jan. Economic Recovery Supported by Reports Consumer Spending up 0.4% in December GDP Up 4% In Q4, Short Of Forecasts But Still Solid Gain Federal Debt; Robbing Peter Jr. to Pay Paul Sr. Euro strength curbs eurozone manufacturing growth
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