Incomes and spending post solid gains in November - KWWL - Eastern Iowa Breaking News, Weather, Closings

Incomes and spending post solid gains in November

WASHINGTON (KWWL) - Personal incomes rose in November at the fastest pace in six months while spending posted a second straight increase, raising hopes that that the recovery from the nation's deep recession might be gaining momentum.

The Commerce Department says 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.

Online News Director Nate Leding

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