Business news for Sun, 23 Dec 2007 & with words consumer+recession. 1 news.

CONSUMER spending in the United States rose more than forecast in November, allaying concern that the slowest shopping season in five years may have already pushed the economy into recession. Purchases gained 1.1 percent after a 0.4 percent increase in October that was more than previously estimated, the US Commerce Department said on Friday in Washington, according to Bloomberg News. Incomes also advanced, while the Federal Reserve's preferred measure of inflation accelerated. While the gain in November spending was the biggest in more than two years, it preceded reports by retailers that warned of a slump in purchases. A private report on Friday showed consumer confidence slid to the lowest level in more than two years in December. Economists forecast spending would rise 0.7 percent, after an originally reported 0.2 percent increase in October.