MarketWatch (01/30/12) Jeffrey Bartash
The wages of U.S. workers increased sharply in December, with personal income rising by 0.5%, according to the U.S. Commerce Department. Meanwhile, personal spending declined by less than 0.1%. As a result, the personal savings rate rose to 4.0% from 3.5% in November. Economists surveyed by MarketWatch had forecast income to rise by 0.4% and spending to increase by 0.1%.