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Consumer spending dropped in December for the second month in a row, as consumers retrenched after a bumpy year colored by a strong job market but also rapid inflation that eroded savings and posed a financial challenge for many Americans. Personal spending fell by 0.2 percent in December, the Commerce Department said Friday. After adjusting for inflation, spending fell 0.3 percent. Spending for November, which the government initially reported...
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Consumer Spending Slid Again in December.