10/28/2022, 2:32 PM (Source: TeleTrader)
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US personal spending rises 0.6% in September

Personal consumption expenditures (PCE) in the United States surged by $113 billion or 0.6% in September compared to the previous month, the country's Bureau of Economic Analysis announced in a report published on Friday.

The PCE price index rose by 0.3% compared to the last month's reading and 6.2% on an annual basis. Excluding food and energy, the index increased by 0.5% from August and jumped by 5.1% from the year before.

The report showed that, in September, personal income grew by $78.9 billion, or 0.4%. Disposable personal income (DPI) was up by 0.4%, while Real PCE advanced by 0.3%, and Real DPI edged up less than 0.1% in September.

Baha Breaking News (BBN) / AB