Consumer Spending up 0.5 pct in September; Incomes Rise as Well

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00012534-consumer-spending-up-05-pct-in-september-/

Consumer spending rose 0.5 percent last month as post-hurricane insurance payments led to the biggest jump in income in 10 months, a government report showed on Monday.

Personal income jumped 1.7 percent, the biggest rise since December 2004, as insurance payments in the wake of hurricanes Katrina and Rita rose at a $120 billion annual rate, the Commerce Department said.

The gain in spending matched expectations on Wall Street, but the increase in income handily outstripped forecasts for a 0.3 percent rise.

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Consumer Spending up 0.5 pct in September; Incomes Rise as Well

Unknown Author

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