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Last Update: 23-Nov-11 10:02 ET
Personal Income and Spending Edge Higher
Personal spending increased 0.1% in October, down from 0.7% growth in September. The Briefing.com consensus expected spending to increase 0.3%.
Goods spending increased 0.1%, down from 1.6% growth in October. Services spending increased 0.1%.
Real spending also increased 0.1% in October.
Personal income increased 0.4% in October. The consensus expected income to increase 0.3%. The growth in income was in-line with the aggregate wage gain revealed in the October Employment Situation Report.
The personal savings rate increased from 3.3% in September to 3.5% in October. That was the first increase in savings since June.
