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BEA: Consumer Spending Edges Up

Monday October 29th, 2012 - 10:20AM

In September, personal income increased $48.1 billion, or 0.4%, and disposable personal income increased $43 billion, or 0.4%, according to the United States Bureau of Economic Analysis. Personal consumption expenditures increased $87.9 billion, or 0.8%.

In August, personal income increased $17.8 billion, or 0.1%, DPI increased $15.1 billion, or 0.1%, and PCE increased $59.9 billion, or 0.5%, based on revised estimates, the bureau announced.

Real DPI— DPI adjusted to remove price changes— decreased less than 0.1% in September compared with a decrease of 0.3% in August, it stated.

Real PCE— PCE adjusted to remove price changes— increased 0.4% in September compared with an increase of 0.1% in August. Purchases of durable goods increased 1.3% compared with an increase of 1.5% in the month earlier. Purchases of nondurable goods increased 0.5% versus an increase of 0.4% month over month. And purchases of services increased 0.2% compared to a 0.2% August decrease, BEA noted.

—mike duff