1 Feb 2011

US consumer spending rises strongly

12:40 pm on 1 February 2011

In the United States, official figures show consumer spending grew at its fastest pace in three years during 2010.

Spending grew by 3.5% from 2009 the Commerce Department said, the best showing since a 5.2% rise in 2007 - before the country went into recession.

The 2010 levels were helped by a strong December, where spending grew by 0.7%, the sixth consecutive month of growth, the BBC reports.

Consumer spending makes up more than two-thirds of activity in the US, the world's largest economy.