Consumer spending remained sluggish in November, inching up just 0.1 percent after holding steady in the previous month, the government said today. Personal income rose a scant 0.3 percent, just keeping even with the inflation rate.
The Commerce Department said spending last month totaled a seasonally adjusted annual rate of $3.73 trillion, up from $3.72 trillion in October. The October total was unchanged from the previous month.
At the same time, incomes totaled a seasonally adjusted annual rate of $4.71 trillion, up from $4.70 trillion the previous month when they rose 0.5 percent.
The increase was due entirely to higher farm subsidies.