US consumer spending flat in December

Consumer spending, the driver of about two-thirds of the US economy, edged down less than 0.1 percent last month, following a 0.5 percent rise in November, the Commerce Department said. Personal income rose 0.3 percent for the second straight month, even while growth in wages and salaries, the largest part of income, slowed sharply to a 0.2 percent increase from 0.5 percent in November. Post-tax, or disposable, personal income, picked up slightly to a 0.3 percent gain.