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U.S. personal income rises 0.3% in November

Staff Writer |
A report by the Commerce Department showed a smaller than expected increase in U.S. personal income in the month of November, while personal spending climbed by more than expected.

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The Commerce Department said personal income rose by 0.3% in November after climbing by 0.4% in October. Economists had expected another 0.4% increase.

Disposable personal income, or personal income less personal current taxes, increased by 0.4% for the third consecutive month.

Meanwhile, the report said personal spending climbed by 0.6% in November after edging up by 0.2% in October. Spending had been expected to rise by 0.5%.

Real spending, which is adjusted to remove price changes, rose by 0.4% in November after coming in unchanged in the previous month.

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