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Personal income was up 0.6 percent in October

The personal income of Americans rose 0.6 percent in October, the Commerce Department reports, a surprisingly strong increase due largely to interest income.

At the same time, spending fell as consumers were apparently saving more of their money.

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Interest income from investments in money market mutual funds and certificates of deposit accounted for 43.4 percent of the total increase in personal income for the month.

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