U.S. Personal Income Climbs More Than Expected In October

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(RTTNews.com) - While a report released by the Commerce Department on Wednesday showed a bigger than expected increase in U.S. personal income in the month of October, the report also said personal spending rose by less than anticipated.

The Commerce Department said personal income climbed by 0.6 percent in October after rising by an upwardly revised 0.4 percent in September.

Economists had expected income to rise by about 0.4 percent compared to the 0.3 percent increase originally reported for the previous month.

Spending had been expected to climb by 0.5 percent, matching the growth originally reported for the previous month.

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