U.S. Personal Income, Spending Increase by More Than Forecast
Bloomberg
Published Oct 30, 2020 23:35
Updated Oct 30, 2020 23:54
(Bloomberg) -- Americans’ incomes increased in September by more than expected, boosted by employment gains and helping to propel consumer spending at the end of the third quarter.
Personal incomes rose 0.9% from the prior month following a 2.5% decline in August, a Commerce Department report showed Friday. That compared with estimates for a 0.4% gain. Household outlays advanced 1.4%, also exceeding forecasts.
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