Share this story
Close X
Switch to Desktop Site

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.

About these ads

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.