Personal income in the U.S. rebounded by more than expected in the month of October, according to a report released by the Commerce Department on Wednesday, while the report also showed a bigger than expected jump in personal spending.
The Commerce Department said personal income climbed by 0.5 percent in October after slumping by 1.0 percent in September. Economists had expected personal income to edge up by 0.2 percent.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.