That exceeded the median estimate in a Bloomberg survey of economists, while the nominal spending gain of 0.4% matched forecasts. Consumers have carried the economy in 2019 amid fluctuations in trade policy, weakness in manufacturing and a pullback in business investment. Nominal personal income rose 0.5% in November from the prior month, exceeding the median estimate for a 0.3% gain, with wages and salaries advancing a healthy 0.4%. Inflation-adjusted disposable income rose 0.4% following a 0.2% drop in October, while the personal saving rate rose to 7.9%. The figures indicate consumption is stabilizing following softer-than-expected retail sales across some categories earlier this month.

Source: The Nation Bangkok July 01, 2022 14:27 UTC