The monthly rate of personal expenses in the United States increased in November, while the monthly rate of PCE decreased

Odaily Planet Daily reported that consumer spending in the United States increased in November, highlighting the continued strength of the economy, which prompted the Federal Reserve to expect a lower rate cut in 2025 this week than three months ago. According to data from the US Department of Commerce, consumer spending, which accounts for over two-thirds of US economic activity, increased by 0.4% month on month last month, while the growth rate in October was revised down to 0.3%. Economists surveyed by institutions predict that consumer spending will increase by 0.5% in October. Strong consumer spending drove the annualized growth rate of the US economy to 3.1% in the third quarter. Economists predict that consumer spending will only slow down slightly this quarter. The Atlanta Fed currently expects the US GDP to grow by 3.2% in the fourth quarter. Federal Reserve Chairman Powell said on Wednesday that the US economy has performed exceptionally well, and I hope the economy continues to perform well. (Golden Ten)