Consumer Spending Rose During December

New York, NY, Jan. 5, 2011 -- Americans' spending picked up momentum in December, according to MasterCard Advisors' SpendingPulse.

Even home furnishings and furniture -- hurt by the housing market slump -- managed a small increase for the period from Nov. 28 through the end of the year.

Analysts are forecasting that holiday sales -- which usually produce about 40 percent of retailers' annual profit -- rose faster than in any year since 2006.

"Overall, holiday sales were strong," said Michael McNamara, vice president of research and analysis at SpendingPulse. "This is the longest sustained improvement since the recession."