U.S. consumer spending rose slightly in October as personal incomes rose just short of expectations, the Commerce Department reported Thursday. Spending rose by 0.2 percent last month, while incomes rose 0.4 percent, the government said. Economists had expected spending to rise by 0.1 percent and incomes by 0.5 percent. Despite missing forecasts, the news was somewhat positive, as spending declined by 0.2 percent in September, and incomes had only risen 0.5 percent in the prior three months. Adjusted for inflation, real spending rose 0.4 percent in October, the fastest pace since July. Real disposable incomes, which are inflation-adjusted and measure income after taxes, rose 0.6 percent in the month. Inflation as measured by the personal consumption expenditures price index fell 0.2 percent in October after declining 0.3 percent in September.
