The Bureau of Economic Analysis reports that both disposable personal income and personal consumption expenditures saw huge gains in November.
Real disposable personal income increased 0.8% last month. This follows a 0.1% decline in October, and is the largest month over month gain since May of 2009. Real disposable personal income is now up 2.5% from a year ago.
Real personal consumption expenditures increased 0.6% in November. This compares to a 0.2% decrease in October and leaves real personal consumption expenditures up 2.1% year over year.