Personal income in the United States increased $400 million, or less than 0.1 percent, in October from September, and disposable personal income rose $800 million month-to-month, or less than 0.1 percent, in October, according to the U.S. Department of Commerce’s Bureau of Economic Analysis. Personal consumption expenditures fell $20.2 billion, or 0.2 percent.
The BEA said that the October estimates reflect the impact of Hurricane Sandy, which made landfall on Oct. 29. The bureau made adjustments, including for work interruptions, where source data were not yet available or did not reflect the effects of the storm.
The BEA’s revised estimates for September indicate personal income up $47.8 billion, or 0.4 percent; disposable personal income rose $42.1 billion, or 0.4 percent, and personal consumption expenditures increased $84.0 billion, or 0.8 percent.