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.
Meanwhile, the report said personal spending rose by 0.5 percent in October after jumping by a revised 1.2 percent in September.
Economists had expected spending to increase by 0.4 percent compared to the 1.4 percent spike originally reported for the previous month.
Excluding price changes, personal spending still rose by 0.5 percent in October following a 1.1 percent increase in September.
With income falling and spending climbing, personal saving as a percentage of disposable income dropped to 13.6 percent from 14.6 percent.
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December 26, 2025 08:42 ET Third quarter economic growth data from some major economies including the U.S. were the main news in this holiday shortened week. GDP growth and industrial production data from the U.S. helped to boost morale, while the consumer confidence survey results were less upbeat. In Europe, the quarterly economic growth data from the U.K. drew attention, while the minutes of the Australian central bank’s latest policy session was in focus in Asia.