U.S. consumer income, spending rise in November

0 Comment(s)Print E-mail Xinhua, December 21, 2012
Adjust font size:

Both personal income and consumption in the United States rose in November, the U.S. Commerce Department reported Friday.

Personal consumption increased by 41.3 billion U.S. dollars, or 0.4 percent compared to November 2011, while personal income rose 85.5 billion U.S. dollars, or 0.6 percent, the department said.

In November 2012, the U.S. savings rate -- personal savings as a percentage of disposable personal income -- edged up to 3.6 percent from 3.4 percent in October.

Consumption is the main engine of the nation's economic growth, accounting for about 70 percent of gross domestic product.

U.S. economic growth in the third quarter this year was revised up to 3.1 percent, faster than previously reported. Real personal consumption increased 1.6 percent in the third quarter, compared with an increase of 1.5 percent in the second quarter. Endi

Print E-mail Bookmark and Share

Go to Forum >>0 Comment(s)

No comments.

Add your comments...

  • User Name Required
  • Your Comment
  • Enter the words you see:   
    Racist, abusive and off-topic comments may be removed by the moderator.
Send your storiesGet more from China.org.cnMobileRSSNewsletter