Tuesday, 30 November 2021 09:32 GMT

USA: October individuals’ income, expenditure exceed expectations

(MENAFN) On Wednesday, Nov.24 a document published by the Commerce Department's Bureau of Economic Analysis, individuals’ earnings and spending in the United States rose in October, exceeding market expectations.

An individual's income went up USD93.4 billion, or 0.5 percent, during October in contrast with September. Personal income has been anticipated to grow by 0.2 percent last month, since it fell by 1 percent in September.

In October, individuals' expenses grew by USD214.3 billion, or 1.3 percent over September, in which the personal spending increased by 1 percent, compared to 0.6 percent in the prior month, according to market estimates.

The Federal Reserve's favored inflation pointer, the personal consumption expenditures (PCE) measure of inflation, rose 0.6 percent in October. The central PCE price index increased 0.4 percent during September, except for food and power.

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