Personal income was up 0.6 percent in October
The personal income of Americans rose 0.6 percent in October, the Commerce Department reports, a surprisingly strong increase due largely to interest income.Skip to next paragraph
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At the same time, spending fell as consumers were apparently saving more of their money.
Interest income from investments in money market mutual funds and certificates of deposit accounted for 43.4 percent of the total increase in personal income for the month.