U.S. Personal Income, Spending Increase by More Than Forecast
Posted on AllSides October 30th, 2020
From The Left
Americans’ incomes increased in September by more than expected, boosted by employment gains and helping to propel consumer spending at the end of the third quarter.
Personal incomes rose 0.9% from the prior month following a 2.5% decline in August, a Commerce Department report showed Friday. That compared with estimates for a 0.4% gain. Household outlays advanced 1.4%, also exceeding forecasts.
The personal saving rate fell for a fifth month but remained elevated at 14.3%. In February, when the unemployment rate was at a 50-year low, the savings rate was...
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