U.S. Personal Income Climbs More Than Expected In September
After reporting a sharp decrease in U.S. personal income in the previous month, the Commerce Department released a report on Friday showing personal income rebounded by more than anticipated in the month of September.
The Commerce Department said personal income climbed by 0.9 percent in September after tumbling by a revised 2.5 percent in August.
Economists had expected personal income to rise by 0.4 percent compared to the 2.7 percent nosedive originally reported for the previous month.
The report also showed a bigger than expected increase in personal spending, which surged up by 1.4 percent in September. Spending was expected to match the 1.0 percent jump seen in August.
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