Jan. 31 - U.S. personal income rose 2.6% in December, the biggest gain in eight years. Bobbi Rebell reports.
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The Daily Digit is 2.6%.
Personal income for Americans was up 2.6% in December, according to the U.S. Commerce Department . That was the biggest increase since 2004 and well above analysts' expectations.
But it may be just a one-time deal.
The Commerce Department said personal income rose because of special dividends and accelerated bonuses to beat increases in taxes this year. Exclude the one-time factors, and after-tax income rose 0.4%.
Still, the big rise in incomes suggests total consumer spending power entered the new year on stronger footing, even though much of the gains may not have been distributed evenly throughout the workforce.
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