Personal Income Rises In November

Personal income and spending continued to rise in November, although at a slower pace, according to the latest report from the Commerce Department.
By Shanthi Bharatwaj ,

NEW YORK (

TheStreet

) --Personal income and spending continued to rise in November, although at a slower pace, according to the latest report from the Commerce Department.

The Bureau of Economic Analysis report said personal income grew 0.3% in November after rising 0.4% in October. Consensus had been for personal incomes to rise 0.2%, according to Briefing.com.

Personal spending rose 0.4% after rising 0.7% in October. Consensus had expected personal spending to rise by a higher 0.5%.

The Personal Consumption Expenditure Price Index, a gauge of inflation, rose 0.1% in November after rising 0.2% previously. Excluding food and energy, the PCE Price Index increased 0.1% compared with an increase of less than 0.1% previously.

Over one year, the index is up 1%, in yet another sign that inflation levels remain subdued.

The

Fed

would prefer for inflation to be closer to 2%.

--Written by Shanthi Bharatwaj in New York

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