Consumer spending up slightly in October as incomes advance
New York City -- Consumer spending rose less than forecast in October as Americans even as personal incomes showed the biggest gains in seven months.
The Commerce Department said Wednesday that spending increased 0.1% last month, the poorest gain in four months. But incomes increased 0.4%, the best showing since March, with private wages and salaries driving the income gain.
Most economists had forecast spending to rise by 0.3% and income by 0.2%.