Bright November Is Reflected in Numbers : Economy: Personal incomes, consumer spending and factory orders all show gains for the month.

The nation’s economy is growing ever stronger near year-end, according to fresh reports of rising incomes, consumer spending and orders for durable goods.

“It suggests the American public was given an early Christmas present,” said Robert G. Dederick, an economist with Northern Trust Co. in Chicago. “The data for November were very favorable across the board.”

The Commerce Department reported Thursday that personal incomes rose 0.6% in November, the fourth straight monthly advance. Consumer spending was up 0.4%, the eighth consecutive gain.

The department also said factory orders for durable goods--items from airplanes to appliances expected to last more than three years--shot up 2%. It was the fourth straight advance, the longest string in more than six years.

“We seem to have a cycle where strength in spending has led to increases in orders, which have led to increases in employment and income, which in turn should lead to more spending and orders,” Dederick said. “Everything was on the upstroke in November.”

Analysts said the data supports fourth-quarter economic growth exceeding 4% at an annual rate, although many believe the expansion will slow to about 3% during the first three months of the new year.

Still, Dederick said, “There’s no reason to think the economy will be screeching to a near-halt as it did a year ago. The fundamentals are positive.”

Another sign that the mood among consumers has brightened was provided by the University of Michigan consumer sentiment index, which jumped to 88.2 in December from 81.2 in November.

In another report Thursday, the Labor Department said the number of first-time claims for jobless benefits inched up 4,000 last week, to a seasonally adjusted 332,000.

But the four-week moving average of claims for unemployment insurance fell by 1,750, to 332,750. Analysts prefer to track the average because it smoothes out spikes in the weekly reports.

“The employment claims numbers are consistent with sustained increases in employment,” Dederick said, predicting creation of 200,000 new jobs this month.

Personal income in November rose to $5.51 trillion at a seasonally adjusted annual rate, up from $5.48 trillion a month earlier. Disposable income--income after taxes--increased 0.6%, also the fourth gain in a row.

Consumer spending, which represents two-thirds of the nation’s economy, totaled $4.49 trillion, up from $4.47 trillion in October.

Americans’ savings rate--savings as a percentage of disposable income--rose to 4.2% last month from 4% in October.

Analysts also were encouraged that income growth outpaced the spending rate in November. They had cautioned that if income continued to lag spending, consumers eventually would have to curb their purchases and thus crimp economic growth.

A key component of the income category--wages and salaries--advanced 0.4%, to $3.15 trillion.

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The income and spending figures were not adjusted for inflation. When adjusted, disposable incomes rose 0.5%, while consumption expenditures increased 0.3%.

The increase in durable goods orders was widespread.

Transportation orders jumped 5.7%, matching the October advance. Orders for both aircraft and motor vehicles contributed. Excluding transportation, orders were up 0.9%.

Other advances included industrial machinery and equipment, up 4.5%, and primary metals, up 2.1%. Only orders for electronic and other electrical machinery fell, down 7.6%.

Business investment in equipment also continued to add to economic growth in November. Orders for non-defense capital goods excluding aircraft rose 2.6%, the ninth increase in the last 10 months.

But defense orders slipped 1.7% after plunging 17.3% a month earlier. Excluding this category, orders were up 2.2%.

Unfilled orders also fell, 0.6% to $424.4 billion, the ninth straight monthly decline and the lowest level since May, 1988.

Shipments shot up 2.7% in November to $141.9 billion. It was the fourth straight gain.

Durable Goods

New orders in billions of dollars, seasonally adjusted: $139.4

Source: Commerce Department