Spending, Income Growth Eases
Feb. 1, 2007 -- Consumer spending rose faster than incomes in December, while core inflation edged up by 0.1 percent, the Commerce Department reported Thursday.
Adjusted for inflation, consumer spending rose 0.3 percent in December, following larger gains in November and October, the report said. At the same time, real disposable incomes rose 0.2 percent, the weakest gains in seven months.
Within personal income, wages and salaries increased by 0.6 percent, with payroll gains in both the manufacturing and service sectors, the report said.
- next -