Consumers Continued To Spend In December As Inflation Falls; 2023 Real GDP Growth Was 2.5%

The Bureau of Economic Analysis provided further evidence of the resilience of consumer spending and the US economy in general in its December “Personal Income & Outlays” report, released Jan. 26. Personnel consumption expenditures rose a robust 0.7% month-over-month in December and half a percentage point in real terms. It was the second month in…