Personal Income Up 0.5%; Spending Increases 0.4%

WASHINGTON — Personal income rose 0.5% in October as consumption increased 0.4%, the Commerce Department reported Wednesday.

The core personal consumption index increased 0.9% year-over-year in October, the smallest gain on record dating back to 1960. Economists expected consumption would increase 0.5% and incomes would rise 0.4%.

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