WASHINGTON — Personal income rose 0.1% in September and personal spending increased 0.6% on a seasonally adjusted basis, the Commerce Department reported Friday.
The September gain in personal income was below the 0.3% median estimate of economists polled by Thomson Reuters and followed a 0.1% dip in August.
The increase in personal spending, however, was on target with the median projection from the economists and followed a 0.2% gain the previous month.
The personal-spending core deflator, month over month, was unchanged from in August, while year over year the core deflator was up 1.6%.
Disposable personal income increased to 0.1%, following a 0.1% drop in August.
The personal savings rate — disposable personal income minus personal outlays — was $419.8 billion in September, down from $479.1 billion in August.
Personal saving as a percentage of disposable personal income saw a decrease to 3.6% in September, the lowest since December 2007, and down from 4.1% in August.