Economic Buzz: US Personal Income Rises 0.4% In September

31 Oct 2022 , 09:17 AM

A report released by the Commerce Department on Friday showed personal income in the U.S. rose by slightly more than expected in the month of September. The Commerce Department said personal income climbed by 0.4 percent in September, matching the upwardly revised increase in August. The Commerce Department said personal income climbed by 0.4 percent in September, matching the upwardly revised increase in August. Disposable personal income, or personal income less personal current taxes, also rose by 0.4 percent in September after climbing by 0.5 percent in August. The report also showed personal spending increased by 0.6 percent in September following an upwardly revised 0.6 percent advance in August. Real personal spending, which excludes price changes, edged up by 0.3 percent for the second consecutive month. With spending increasing by more than income, personal saving as a percentage of disposable personal income fell to 3.1 percent in September from 3.4 percent in August. Powered by Commodity Insights