U.S. consumer spending rises in December, income flat

U.S. consumer spending rose more than expected in December, but weak income growth suggested the economy could cool off a bit in the first quarter. The Commerce Department said on Friday that consumer spending increased 0.4 percent after rising by a revised 0.6 percent in November. Economists polled by Reuters had forecast consumer spending, which accounts for more than two-thirds of U.S. economic activity, rising 0.2 percent in December. When adjusted for inflation, consumer spending rose 0.2 percent after advancing 0.6 percent in November.

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