U.S. consumer spending up in October
Written on November 26, 2009
Americans upped their spending in October by a little more than experts had predicted, the U.S. Department of Commerce said Wednesday.
According to a MarketWatch story, spending, not adjusted for inflation, rose 0.7 percent over the month. That compares with an 0.6 percent plunge in September, as the Cash for Clunkers auto discount program ended.
Economists polled by MarketWatch had expected spending to increase by 0 cash advance loans.6 percent. Current-dollar personal income was up 0.2 percent, higher than the predicted 0.1 percent.
Personal savings fell to 4.4 percent of disposable income in October, compared to 4.6 percent in October. Spending during the month rose faster than incomes, according to the MarketWatch story.
Filed in: finance.