US consumer spending rose 0.5pc in November, while personal income increased 0.3pc, according to figures released today by the Commerce Department. The respective gains in both consumer spending and personal income were in line with the consensus forecasts of Wall Street economists in November. The rise in spending in November marks the second straight monthly gain in spending, while the increase in income marks a fourth straight monthly increase. Overall consumer spending was boosted by stronger demand for durable goods during November. Durable goods spending rose 1.5pc in November, following a 1.4pc decline in the prior month. The rise in durable goods spending in November was the strongest monthly gain in the segment since August 2000. Spending on non-durable goods rose 0.4pc in November while spending on services rose 0.4pc. In October, consumer spending rose 0.4pc while income rose a revised 0.3pc, stronger than the initial estimate of a 0.1pc rise. Disposable personal income, or income less personal tax payments, rose 0.4pc in November, compared with a 0.4pc rise the month before. ///www.fxcentre.com