Americans' personal income rose in November, but not as fast as their spending, the Commerce Department reported. The 0.4 percent gain was the slowest pace since August, but still better than the 0.2 percent many analysts expected. Personal spending rose 0.5 percent
New orders for costly US manufactured goods rebounded strongly in November. The Commerce Department said. With electronic and electric products leading the way, the value of total new orders rose 1.2 percent, bouncing back from two straight months of decline. Wall Street analysts had expected durable-goods orders to rise 1.1 percent.
Nike Inc.'s troubled image took a new hit at factories in Indonesia as a protest by thousands of workers over more-generous year-end bonuses turned violent. Police intervened to prevent the trouble from spreading, but not before factory windows were smashed and company vehicles were set on fire. The workers also demanded the resignation of a manager and the right to choose new union leadership. The US sportswear giant has been battling public-relations problems over workplace conditions, pay, and minimum-age hiring practices at its low-wage Asian assembly plants.
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