The Commerce Department released a report on Wednesday showing a decrease in U.S. personal income in the month of October.
The report said personal income fell by 0.7 percent in October after climbing by a downwardly revised 0.7 percent in September.
Economists had expected personal income to come in unchanged compared to the 0.9 percent increase originally reported for the previous month.
Disposable personal income, or personal income less personal current taxes, also slid by 0.8 percent in October after rising by 0.7 percent in September.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.