Personal Spending Drops in October

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Personal spending fell 0.2% in October, Commerce Department said Friday.

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The fall followed a 0.8% rise in September. Personal incomes rose 0.4% matching the previous month’s gain.

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Economists’ median forecast was for no change in spending, Bloomberg reported. ý

A rise in consumer spending could increase demand for new factory goods and the trucking shipments that get them to stores.

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