WASHINGTON — Personal income rose $8.5 billion or 0.1% in November, the smallest increase since August when it was down 0.1%, the Commerce Department reported Friday.
The gain followed a 0.4% increase in October and was lower than the median 0.2% increase estimated by economists polled by Thomson Reuters.
Personal spending also rose 0.1% in November, following a 0.1% gain in October.
The November increase in personal spending was lower than the median 0.3% increase that had been projected by the economists.
Disposable personal income remained unchanged in November, following a 0.2% gain in October.