Consumer spending rose 0.4 percent in November | Essentials

Consumer spending rose 0.4 percent in November

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Wages and salaries rose $41. 1 billion in November. Sandy had reduced wages at an annual rate of $18. 2 billion in October. Spending had fallen 0. 1 percent in October compared with September. With income rising faster than spending, the saving rate rose to 3. 6 percent of income in November, up from 3. 4 percent in October. Economists remain concerned that income growth is too weak to support sustained increases in spending, especially at a time when Americans are worried about possible tax increases in the new year from the "fiscal cliff." That's the name for automatic tax increases and spending cuts due to take effect in January unless Congress and the Obama administration reach a budget deal before the new year. Consumer spending is closely watched because it accounts for about 70 percent of economic activity.

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percent spending annual rate consumer spending percent growth rate tax increases fiscal cliff economists percent increase possible tax increases automatic tax increases quarter substantially improved job spending cuts overnight lending rates monthly bond purchases government spending saving rate unemployment rate short-term interest rate income sustained increases October-December quarter January-March quarter July-September quarter income growth Obama administration budget deal economic activity major equipment National Association Business Economics latest forecast economic growth policy meeting current level Federal Reserve budget debate long-term interest rates wages economy time Congress improvement salaries 18.2 Sandy inflation Uncertainty analysts

People:

Sandy

Overall Sentiment: -0.0314653

Relevance: 0.599718

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Organization: Congress

Overall Sentiment: 0.0908145

Relevance: 0.737721

Organization: Obama administration

Overall Sentiment: 0.11953

Relevance: 0.737389

Organization: Federal Reserve

Overall Sentiment: 0

Relevance: 0.581169

Disambiguation: References:

• Federal Reserve System
• Federal Reserve System: dbpedia
• Federal Reserve System: freebase
• Federal Reserve System: umbel
• Federal Reserve System: opencyc
• Federal Reserve System: yago

Organization: Fed

Overall Sentiment: 0.0289645

Relevance: 0.526742

Organization: National Association for Business Economics

Overall Sentiment: 0

Relevance: 0.514886

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Consumer spending rose 0.4 percent in November

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Also, personal income jumped 0.6 percent, the biggest gain in 11 months

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• consumer sentiment
• consumer spending
• economy
• money
• november

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