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10/30, 1:32 PM (Source: TeleTrader)
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US personal spending up 1.4% in September

Personal spending in the United States rose by 1.4% in September or $201.4 billion, a report from the US Department of Commerce said on Friday. The figure beat expectations of around 1%.

Meanwhile, personal income increased by 0.9% in September or $170.3 billion, higher than forecasts of around 0.5%. Disposable personal income was up increased by $150.3 billion or 0.9%.

"The increase in personal income in September reflected increases in proprietors’ income, compensation of employees, and rental income of persons that were partly offset by a decrease in government social benefits," the report stated.

Breaking the News / DJ