Consumers enjoyed an increase of $46.7 billion, or 0.3%, in personal income in September.
The Commerce Department reports disposable personal income (DPI), what's left after the government takes its cut, rose $37.0 billion.
Last month's rise was due mainly to increases in compensation of employees and nonfarm proprietors’ income.
Spending on the increase
At the same time personal consumption expenditures (PCE), also called consumer spending, jumped 0.5% or $61.0 billion. The advance was largely the result of an increase in spending for durable goods -- things like cars, refrigerators, and computers.
The PCE price index, a measure of inflation, was up 0.2%, with the “core Rate,” which excludes the volatile food and energy categories, inching up 0.1%.
Personal saving totaled $797.8 billion last month – down $9.8 billion from August, although the personal saving rate -- personal saving as a percentage of DPI -- remained at 5.7%.
The complete report is available on the Commerce Department website.