While the Commerce Department released a report on Wednesday showing that U.S. personal income rose in line with estimates in the month of October, personal spending increased less than expected.
The report said personal income climbed by 0.4 percent in October after edging up by an upwardly revised 0.2 percent in September. The increase matched expectations.
Meanwhile, the Commerce Department said personal spending inched up by 0.1 percent in October, matching the uptick seen in the previous month but coming in below expectations for 0.3 percent growth.
The material has been provided by InstaForex Company – www.instaforex.com