Washington -- Personal income rose 0.5 percent in October with spending climbing 0.4 percent, the U.S. Bureau of Economic Analysis reported Wednesday.
Spending was slightly less than expected, but beat September's gain of 0.3 percent. Incomes a month ago were unchanged.
Economists had predicted incomes would rise 0.4 percent and spending would rise 0.6 percent.
Spending on goods outpaced outlays on services, rising 0.8 percent. Consumer spending on services rose 0.1 percent.
Just before the holidays, disposable income rose 0.4 percent, a potential boon for retailers in November.
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