US Consumer Spending Increases Solidly in October and November

U.S. consumer spending increased solidly in November and October, likely keeping the economy on track for a third straight quarter of strong growth.

Consumer spending, which accounts for more than two-thirds of economic activity, rose 0.5% after rising by the same margin in October, the Commerce Department's Bureau of Economic Analysis said on Thursday.

Economists polled by Reuters had forecast consumer spending increasing 0.5% in November. The combined October and November data was delayed by the 43-day government shutdown.

The BEA earlier on Thursday reported that the economy grew at a...

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