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Monday
Jan302012

Personal Incomes Shot Up in December; Consumer Spending Fell Flat

Comstock Images/Thinkstock(WASHINGTON) -- In what comes as promising news for American workers, personal incomes rose again in December by the highest percentage in nine months.

The Commerce Department reported Monday that incomes increased $61.3 billion, or 0.5 percent, to wrap up 2011, marking the fourth straight month of gains. The previous month, incomes jumped by a 10th of a percent.

But while Americans may have had more money in their pockets to spend on gifts, consumer spending during the holiday shopping month fell flat.  The same report shows the figure was unchanged in December after rising by 0.1 percent the previous month.

Copyright 2012 ABC News Radio

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