Arab Today, arab today us consumer spending rose in october but incomes fell
Last Updated : GMT 18:31:22
Arab Today, arab today
Arab Today, arab today

US consumer spending rose in October, but incomes fell

Arab Today, arab today

Arab Today, arab today US consumer spending rose in October, but incomes fell

Washington - UPI

US consumer spending rose 0.3 percent in October, despite a 0.1 percent drop in personal income, the Commerce Department said Friday. Spending increased by $32.7 billion while incomes fell by $10.8 billion, the department's Bureau of Economic Analysis said. That swung disposable incomes into the red. The figure that defines how much consumers have left over after their monthly necessities are accounted for dropped 0.2 percent, or by $23.6 billion, in October. The figures are a turnaround from September, when incomes rose by 0.5 percent, or by $64.3 billion, and personal consumption expenditures rose by 0.2 percent or $23.8 billion. Price gains remained subdued in October -- a tendency that is predictable when incomes are stagnant. The price index for personal spending fell less than 0.1 percent after rising 0.1 percent in September. The price index for core items, which exclude food and energy items, rose 0.1 percent, matching the gain in September, the bureau said.

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