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U.S. personal income rises slightly less than expected in September

Staff Writer |
A report released by the Commerce Department on Monday showed personal income in the US rose by slightly less than expected in the month of September, although the report also showed personal spending increased in line with estimates.

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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.


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