US: Personal Income Rise by 0.9% in September vs. 0.4% Expected

Personal Income in the US rose by 0.9% on a monthly basis in September following August’s contraction of 2.5%, the US Bureau of Economic Analysis reported on Friday. This reading came in slightly better than the market expectation for an increase of 0.4%.

Further details of the report revealed that Personal Spending in the same period increased by 1.4% and surpassed analysts’ estimate of 1%.