Investors withdrew money out of U.S. equity funds for a sixth straight week in the week ended Dec. 28 as data pointing to a resilient economy raised worries that the Federal Reserve would keep interest rates higher for longer.

However some concerns were eased by a Commerce Department report that showed U.S. consumer spending barely rose in November, while inflation cooled further.

According to Refinitiv Lipper data, investors exited a net $5.41 billion worth of U.S. equity funds after disposing of $41.06 billion worth in the previous week.

Data showed growth funds were out of favor for the sixth consecutive week with net outflows of $1.34 billion, but value funds gained $190 million worth of inflows after five weeks of net selling in a row.

Investors sold $603 million worth of tech sector funds marking a fifth straight week of outflow, while withdrawing $575 million out of financials.

Meanwhile, U.S. bond funds saw outflows for a 15th week, amounting to a net $5.42 billion.

US taxable bond funds suffered $3.4 billion worth of net selling after seeing $13.93 billion in outflows in the previous week. Municipal bond funds also saw net disposals, amounting to $1.95 billion.

Investors exited U.S. short/intermediate investment-grade, general domestic taxable fixed income, and mortgage funds worth $1.72 billion, $847 million and $630 million respectively.

However, safer money market funds and government bond funds drew $18.29 billion and $1.55 billion worth of inflows.