Personal Income And Spending Are On The Rise

Target shopping cart black fridayREUTERS/Andrew NellesThanksgiving Day shoppers line up to start shopping at a Target store in Chicago.

The American consumer is spending more than it is bringing in.

Personal income climbed by 0.4% in November, which was right in line with economists’ expectations.

Personal spending grew by 0.6%, which was a bit stronger than the 0.5% expected.

“We suspect that stronger real consumer spending data will help support Q4 growth momentum despite potentially weaker investment activity hinted at by the weaker durable goods orders report earlier this morning,” TD Securities Gennadiy Goldberg said.

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