Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.
Investing December 23, 2002
Nov. Personal Income, Spending Up, Savings Down
December 23, 2002 (PLANSPONSOR.com) - American
incomes rose by 0.3% in November, according to the Bureau of
Economic Analysis (BEA).
Reported by Nevin E. Adams
It was the fourth monthly increase in a row for the gauge, which also found that individual after-tax incomes rose 0.4%, also for the fourth month in a row, and matching October’s rate of increase.
On the other hand, workers managed to spend it as fast as they made it, with personal spending recording its largest increase in four months, 0.5%. Consequently, the nation’s saving rate, savings as a percentage of after-tax income, dipped to 4.3% last month from 4.4% in October.