WASHINGTON (AP) _ Americans' personal incomes rose solidly in November, while spending grew at its slowest pace in more than two years as stock market volatility, lower consumer confidence and higher energy costs dampened buyers' psyche.

The Commerce Department reported Friday that incomes, which includes wages, interest and government benefits, increased by 0.4 percent last month, matching analysts' expectations. That was an improvement over October when incomes fell by 0.1 percent, buffeted by a big swing in federal farm payments.

Spending, meanwhile, rose by 0.3 percent in November, the weakest pace since July 1998 when spending was flat. The spending increase was also right on target with analysts' expectations. In October, spending increased by 0.4 percent.

Consumer spending, which accounts for two-thirds of all economic activity, has been an engine of the economy's growth. But consumers have been tightening the belt, contributing to an economic slowdown.

The economy braked to a four-year-low in growth of just 2.2 percent in the July-September quarter, further evidence that America's booming economy is rapidly cooling off.