Income, Spending and Durable Goods Orders Rise in November Friday, December 23, 12:44 PM ET
Income and spending rose in November, as did orders for durable goods.
According to Commerce Department data released today, personal income grew by 0.1% in November, and consumer spending gained the same amount.
Growth in both figures was less than economists had expected.
The Commerce Department also said that orders for durable goods rose 3.8% in November.
The figure, meant to measure demand for items that last longer than three years, gained the most since July, boosted by aircraft orders.
Excluding defense and transportation, orders actually declined 1.2%m the largest decline since the beginning of the year.
The dollar index was trading lower after the reports, leading the U.S. Dollar Bullish Fund (AMEX:
UUP) to trade flat.
Gold, meantime, was trading higher, giving a boost to the iShares Gold Trust (AMEX:
IAU), trading up .3% and the SPDR Gold Shares (AMEX: GLD), trading up over .2%.
Crude oil is trading higher Friday, sending the DB Oil Fund (AMEX:
DBO) to trade up about .3%, and the Energy Select Sector SPDR (AMEX: XLE) to trade down slightly.
For MarketNewsVideo.com, I'm Sayoko Murase.
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Income, Spending and Durable Goods Orders Rise in November
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