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Statement from Under Secretary Rebecca Blank on Personal Income and Outlays in November 2009

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FOR IMMEDIATE RELEASE

Wednesday, December 23, 2009

CONTACT OFFICE OF PUBLIC AFFAIRS

202-482-4883

Statement from Under Secretary Rebecca Blank on Personal Income and Outlays in November 2009

The U.S. Commerce Department’s Bureau of Economic Analysis today released personal income and outlays data for November 2009. Personal income rose 0.4 percent, real disposable personal income increased 0.2 percent and real personal consumption expenditures advanced 0.2 percent. The saving rate in November was unchanged at 4.7 percent.

“Consumer spending continues to expand in the fourth quarter of this year in sharp contrast with the declines a year ago,” said Commerce Department Under Secretary Rebecca Blank. “Disposable personal income is growing this quarter as well. Consumers appear to be spending carefully while improving their financial positions by reducing debt. These trends provide a favorable base for further growth in the coming year.”