U.S. consumer spending and confidence both rose at a steady pace in December, but weaker income figures suggest households are likely to face greater spending constraints this year.
Personal consumption expenditures increased $46.6 billion, or 0.3 percent, month-over-month in December, the Commerce Department said in a release, while inflation-adjusted real disposable income fell by 0.1 percent in the same period. Real consumption, which is adjusted for the effects of inflation, rose 0.1 percent month-over-month in December.
