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% fall the previous month.
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 the previous month, while year-over-year the core deflator was up 1.6%.
Disposable personal income was up 0.1%, following by a 0.1% drop in August.
The personal savings rate -- disposable personal income less personal outlays -- was $419.8 billion in September, compared to $479.1 billion in August. Personal saving as a percentage of disposable personal income was 3.6% in September -- the lowest since December 2007. That compares with 4.1% in August.
