U.S. Personal Income Rises Less Than Expected In November
December 21 2018 - 4:14AM
RTTF2
Personal income in the U.S. increased by slightly less than
expected in the month of November, according to a report released
by the Commerce Department on Friday, although the report also
showed slightly stronger than expected personal spending
growth.
The Commerce Department said personal spending edged up by 0.2
percent in November after climbing by 0.5 percent in October.
Economists had expected personal income to rise by 0.3 percent.
Disposable personal income, or personal income less personal
current taxes, also rose by 0.2 percent in November following a 0.5
percent increase in October.
Meanwhile, the report said personal spending climbed by 0.4
percent in November after jumping by an upwardly revised 0.8
percent in October.
Personal spending had been expected to rise by 0.3 percent
compared to the 0.6 percent increase originally reported for the
previous month.
Real spending, which is adjusted to remove price changes, rose
by 0.3 percent in November after climbing by 0.6 percent in
October.
With spending rising by more than income, personal saving as a
percentage of disposable income dipped to 6.0 percent in November
from 6.1 percent in October.
A reading on inflation said to be preferred by the Federal
Reserve showed the annual rate of core consumer price growth ticked
up to 1.9 percent in November from 1.8 percent in the previous
month.
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