In percentage terms, personal income in the U.S. increased far faster in September than did personal spending. Personal income rose half a percentage point in September, its biggest monthly gain since June, the U.S. Commerce Department reported on Oct. 30.
Consumer spending, however, was stingy in comparison, rising just a tenth of a percentage point, the smallest increase in more than six months.
Consumers cut back on their spending on non-durable manufactured goods, down 1.2% from August, while spending more, 1.6%, on durables, generally big ticket items designed to last at least three years.
