http://mobile.reuters.com/article/newsOne/idUSKBN15E1GK
U.S. consumer spending accelerated in December
as households bought motor vehicles and cold weather boosted demand for
utilities amid a rise in wages, pointing to sustained domestic demand
that could spur economic growth in early 2017.
There are also signs that inflation
firmed last month. The growth outlook was further bolstered by other
data on Monday showing a jump in contracts to buy previously owned
homes. A strengthening economy, rising price pressures and tightening
labor market could allow the Federal Reserve to raise interest rates at
least three times this year.
"Consumers keep on spending to help the
economy grow and inflation is stirring," said Chris Rupkey, chief
economist at MUFG Union Bank in New York. "The economy is at full
employment. Time for the Fed to hoist sail on interest rates."
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