Personal Spending Increases Twice As Fast As Income

In December 2005, U.S. personal consumption expenditures increased nine-tenths of a percentage point, slightly more than twice as fast as personal income, which advanced four-tenths of a percent, the U.S. Commerce Department reported on January 30. In November 2005, personal income also rose four-tenths of a percent while personal expenditures rose half a percentage point.

For all of 2005, personal income increased 5.4%, half a percentage point below 2004's increase of 5.9%. At 6.5%, the same as in 2004, last year's increase in personal consumption outlays outpaced the growth in personal income.

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