A new report released by the Commerce Department suggests consumer spending may not be as rosy as many analysts projected. While personal spending did grow over the course of the month, it was less than many economists forecasted.

Consumer spending edged up by a narrow 0.1 percent, a slim number that many retailers may find disappointing considering the season and after a 0.4 percent increase in October. As Bloomberg notes, a panel of economists predicted at least a 0.3 percent rise over the course of the 30-day period.

"In the absence of a significant pickup in income, we won't see a big boost in spending," Yelena Shulyatyeva, an economist at BNP Paribas in New York, told the news source. "The momentum will slow in the fourth quarter, but the economy is still growing."

The average projection ranged from increases as slim as 0.2 percent to growth as big as 0.6 percent, with none of the analysts forecasting a 0.1 percent increase.

Still, it's hard to be upset over any improvements. Retailers looking to bolster sales further may want to consider offering discounts and other incentives.

This entry was posted by Retail Pro on Monday, January 16th, 2012 at 12:59 pm .