U.S. personal income rises slightly less than expected in September
The report said personal income edged up by 0.2% in September after climbing by an upwardly revised 0.4% in August.
Economists had expected income to rise by 0.3%, matching the increase originally reported for the previous month.
Meanwhile, the Commerce Department said personal spending rose by 0.4% in September after increasing by an upwardly revised 0.5% in August.
Spending had been expected to advance by 0.4% following the 0.3% growth originally reported for the previous month.
The report also said a reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth held at 2.0% for the fifth straight month. ■