Americans Are Making More and Spending More

Americans are making more and spending more, according to a November Personal Income and Outlays report (link opens as pdf) released today by the Commerce Department. 

After dipping 0.1% for October, personal income advanced $30.1 billion (0.2%) at seasonally adjusted annual rates, although analysts had expected a stronger 0.5% gain. 

Wages and salaries improved across the board, with goods-producing industries, manufacturing, services companies, and governments all reporting payroll increases.

For the same period, personal spending increased $63 billion (0.5%), matching analyst expectations exactly. 

In a potential sign of longer-term economic optimism, durable goods spending bumped up 2.2% for November. Following a 1.2% gain in October, more than half of this latest spending came from motor vehicles and parts.

Compared to November 2012, disposable personal income is up 0.6%, while personal spending is up 2.6%, boosted largely by a 7.8% increase in durable goods spending. 


The article Americans Are Making More and Spending More originally appeared on

You can follow Justin Loiseau on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.