WASHINGTON — October Personal Income data showed continued spending despite a drop in income that stemmed from slower wage growth, lower interest and dividends, and a retrenchment in farm income. Some of the slowing in income probably stemmed from the government shutdown.

Personal Income posted -0.1% in its biggest -- and only -- drop since January's -4.4%. Personal Consumption Expenditures posted +0.3%, and core PCE prices +0.1% for another weak inflation rate of +1.1% over the year.

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