WASHINGTON (AP) — Personal incomes rose in November at the fastest pace in six months while spending posted a second consecutive increase, hopeful signs that the recession might be gaining momentum.
The Commerce Department said personal incomes were up 0.4 percent in November, helped by a $16.1 billion increase in wages and salaries, reflecting the drop in unemployment that occurred last month.
The gain in incomes helped bolster spending, which rose 0.5 percent in November. Both the income and spending gains were slightly less than economists had expected.
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