WASHINGTON — Personal income unexpectedly fell in September, dropping 0.1% from the prior month, the Commerce Department reported Monday.

Consumers tapped their savings to bridge the gap between income and spending, which rose 0.2%. Economists expected consumption to increase 0.4% and personal income to rise 0.2%.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.