Personal Income Up 0.1%; Spending Increases 0.6%

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.

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