Investing.com investing.com 23 Dec, 2020 14:45 am

U.S. weekly jobless claims fall; consumer spending declines in November By Reuters

U.S. weekly jobless claims fall; consumer spending declines in November By Reuters
U.S. weekly jobless claims fall; consumer spending declines in November

Indeed, a separate report showed consumer spending fell last month for the first time since April.State and local governments have re-imposed restrictions on businesses, undercutting consumer spending and unleashing a fresh round of layoffs.A second report from the Commerce Department on Wednesday showed consumer spending, which accounts for more than two-thirds of U.That was the first drop in consumer spending since the recovery started in May.

Economists had forecast consumer spending decreasing 0.Though the new rescue package includes direct payments to most Americans, economists expect a chunk of the stimulus checks will be saved.

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