Personal income in the U.S. unexpectedly showed a modest decrease in the month of October, according to a report released by the Commerce Department on Friday.
The report said personal income edged down by 0.1 percent in October after rising by 0.5 percent in September. The drop surprised economists, who had expected income to increase by 0.3 percent.
Meanwhile, the Commerce Department said personal spending rose by 0.3 percent in October following a 0.2 percent increase in September. The increase in spending matched economist estimates.
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