CONSUMER SPENDING SLOWED IN SEPTEMBER, INCOME FELL

Key Points:

  • U.S. consumer spending rose by 0.6% in September, beating economists’ expectations of 0.5%.
  • Personal income decreased by 1.0%, or by $216.2 Billion, in September.
  • The decrease in personal income in September primarily reflected a decrease in government social benefits.
  • The overall personal consumption expenditures price index rose 0.3% in September and is up 4.4% from a year prior.
  • The core personal consumption expenditures price index, which excludes food and energy, rose 0.2% in September and is up 3.6% from the previous year.
  • The Right Facts will continue to monitor spending and income.
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