Personal incomes in the United States rose a little less than expected in November, according to a report released by the US Department of Commerce on Friday, although the report also showed a slightly stronger than expected increase in personal spending.
expenses rose 0.2 percent in November, after rising 0.5 percent in October. Economists had expected personal incomes to grow by 0.3 percent.
Disposable personal income or personal income after deducting personal current taxes also increased by 0.2 percent in November after increasing by 0.5 percent in October.
Between however, the report says personal expenses rose 0.4 percent in November after rising 0.8 percent in October.
Personal spending was expected to rise 0.3 percent compared with a rise of 0.6 percent originally reported in the previous month.
Actual expenses, adjusted In order to eliminate price changes, they rose by 0.3 percent in November after rising by 0.6 percent in October.
Taking into account the growth of expenditures exceeding the growth of income, personal savings as a percentage of disposable income decreased to 6.0 percent in November from 6.1 percent in October.
Inflation data showed that the annual growth rate of basic consumer prices rose to 1.9 percent in November from 1.8 percent in the previous month.