Personal income in the U.S. increased by slightly more than expected in the month of October, according to a report released by the Commerce Department on Thursday, while the report said personal spending rose in line with estimates.
The report said personal income climbed by 0.4 percent in October, matching the increase seen in September. Economists had expected income to rise by 0.3 percent.
The Commerce Department also said personal spending rose by 0.3 percent in October after climbing by a downwardly revised 0.9 percent in September.
Economists had expected spending to rise by 0.3 percent compared to the 1.0 percent jump originally reported for the previous month.
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