American Spending is Up, but Not Enough

With the finance world preparing to clock off for

, the personal income and spending numbers were released on Friday morning. According to

, personal income increased 0.1 percent to $8.5 billion. Disposable personal income decreased less than 0.1 percent to $5 billion. The report, published by the Bureau of Economic Analysis, also said that personal consumption expenditure increased by 0.1 percent to $13.1 billion in November. Those figures compare to October, when personal income increased 0.4 percent to $47.2 billion, DPI increased 0.2 percent to $27.2 billion, and PCE increased 0.1 percent to $11.3 billion. Bloomberg states that, “Private wage and salary disbursements decreased $7.1 billion in November, in contrast to an increase of $37.2 billion in October. Goods-producing industries' payrolls decreased $6.7 billion, in contrast to an increase of $8.6 billion; manufacturing payrolls decreased $6.9 billion, in contrast to an increase of $6.8 billion. Services-producing industries' payrolls decreased $0.3 billion, in contrast to an increase of $28.5 billion. Government wage and salary disbursements increased $0.1 billion in November, the same increase as in October.” Elsewhere, regarding personal income, “Supplements to wages and salaries increased $1.1 billion in November, compared with an increase of $4.4 billion in October. Proprietors' income decreased $3.5 billion in November, compared with a decrease of $2.5 billion in October. Farm proprietors' income decreased $4.2 billion, compared with a decrease of $4.3 billion. Nonfarm proprietors' income increased $0.9 billion, compared with an increase of $1.7 billion.” The numbers are disappointing, particularly for a November when expectations were higher for the

. The next release will be January 30. If you would like to be alerted to spending and income updates as they come out in real-time, signup for a

of Benzinga Pro's premium news service.