2 February 2004, 16:59  US Dec spending rose slightly less than expected

WASHINGTON, Feb 2 - U.S. consumers spent slightly less than expected in December, a government report showed on Monday, but an upward revision to spending in the previous month pointed to a reasonable holiday shopping season. Personal spending rose 0.4 percent in December after a revised 0.5 percent rise in November, the Commerce Department said. Analysts had been expecting a 0.5 percent gain. Adjusted for inflation, spending rose just 0.2 percent. The department said personal income rose 0.2 percent after climbing 0.3 percent in November. That was in line with expectations. The personal saving rate dipped to 1.3 percent in December from 1.5 percent in November, marking the lowest rate since December 2002. On Friday, Commerce said economic growth slowed to a 4 percent annual rate in the final quarter of last year. That report incorporated the latest data on personal income and spending.//

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