Consumer Spending Flat in December

Washington, DC, Jan. 30, 2012 --  Consumer spending was flat in December while savings rose, according to the Commerce Department.

It was the weakest reading on spending since June. Economists had expected consumer spendingto edge up 0.1%, the same as in November.

For all of 2011, spending rose 4.7%, the largest increase since 2007.

When adjusted for inflation, spending fell 0.1%, breaking three straight months of gains. It increased 0.1% in November.