Consumer Spending Up Hefty 7.3% in ’89 : Economy: The gain is the biggest in three years. Incomes, meanwhile, leap 9%, largest jump in five years.

Consumer spending rose 7.3% in 1989, its fastest advance in three years, while incomes jumped 9%, the largest increase in five years, the government said today.

The Commerce Department said spending totaled $3.58 trillion last year, posting the largest gain since a 6.1% advance in 1986.

Consumer spending is considered a barometer of economic health because it accounts for about two-thirds of the nation’s economic activity. The department reported last Friday that spending posted a rare decline of 0.1% during the entire fourth quarter of 1989.

Incomes totaled $4.43 trillion last year. Their 9% rise marked the sharpest jump since a 9.5% increase in 1984.

Americans’ savings rate, savings as a percent of disposable income, rose to 5.5% from a 4.2% rate in 1988. It was the highest rate since the 6.1% posted in 1984.

On a monthly basis, spending rose 1% to a seasonally adjusted annual rate of $3.58 trillion in December, the smallest increase since a 1% advance last August.

Incomes, however, edged up just 0.5% to a seasonally adjusted annual rate of $4.57 trillion, the smallest increase since a 0.2% gain last September.

The unusually cold weather contributed to the December jump in spending. Expenditures for fuel oil, electricity and natural gas increased $15.1 billion.

Purchases of durable goods--big-ticket items expected to last more than three years--rose $6.7 billion after declining $2.8 billion the previous month. Non-durable purchases gained $6.2 billion after a $3.4-billion November increase. Spending on services increased $24.1 billion following a $9.6-billion advance the previous month.

Several special factors affected the incomes last month.

“The December increase was boosted by a return to work following strikes in the aircraft and telephone industries and was reduced by decreases in retroactive Social Security benefit payments and in subsidy payments to farm proprietors,” the Commerce Department said.

Excluding the special factors, income increased $23.6 billion or 0.5% in December.

The December report showed that Americans’ incomes after taxes rose 0.4% after a 1% gain in November.

The key component of the income category--wages and salaries--increased $16.9 billion in December, reflecting in part the end of the Boeing Co. aircraft strike. Wages and salaries rose $2 billion in November.

Payrolls at manufacturing companies increased $2.3 billion after dropping $5.9 billion in November.