FXstreet.com (Barcelona) - Personal income has grown less than expected in October in the US, while personal spending growth has slowed down, according to data released by the US Commerce Department.
Personal income has grown 0.2% in October from September, in seasonally adjusted terms, the weakest figure seen since April. In September, personal income posted a 0.4% increase. Same accounts for personal spending, which increased 0.2% on the month n October, following a 0.3% growth in September.
Both income and spending have come short of the experts expectations which advanced a 0.4% increase on personal income , and 0.3% increase in personal spending.
The Prices Index for Personal Consumption Expenditures has risen 0.3% on the month; while the core PCE Prices Index, which excludes food and energy, rose 0.2%. On the year, the PCE Prices Index has grown 2.9% while the Core PCE Prices Index increased 1.9%.