Consumer Spending Up 0.5 Percent In November
WASHINGTON (UPI) — U.S. consumer spending rose 0.5 percent in November, as income rose for the first time in two months, the Commerce Department said Monday.
Incomes rose 0.2 percent or by $30.1 billion after dropping 0.1 percent in October. Disposable income, subsequently, rose 0.1 percent in November, the department’s Bureau of Economic Statistics said.
Using updated estimates, the bureau said personal income dropped by $11.7 billion in October while disposable income fell 0.2 percent or by $25.6 billion and personal consumption expenditures rose by $44.2 billion.
In November, wages and salaries rose by $26.1 billion, the bureau said.
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