Consumer spending rose by .5% in November over the previous month, according to the Commerce Department, marking the highest rate of growth since June. Consumer income also rose modestly (.2%), up from a .1% drop in October. Wages and salaries increased by .4%.
The news comes on the heels of the federal government’s announcement that the nation’s GDP registered its strongest growth in nearly two years, increasing at an annual rate of 4.1% in the third quarter of 2013.
