WASHINGTON - Personal income rose $48.1 billion or 0.4% in October, the largest increase since March when it was up 0.5%, the Commerce Department report Wednesday.
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The gain followed a 0.1% increase in September and was lower than the median 0.3% increase estimated by economists polled by Thomson Reuters.
Personal spending increased 0.1% in October, following a 0.7% gain in September.
The October gain was lower than the median 0.4% increase projected by the economists.
Disposable personal income rose $30.2 billion or 0.3%, the largest gain since March when it was up 0.4%. The October increase followed a 0.1% gain in September.
