US Consumer spending rise in October

The US Commerce Department said today that consumer spending, which accounts for more than two-thirds of US economic activity, rose 0.5% in October after rising 1.2% in September and analysts had expected consumer spending to rise 0.4% in October. Personal income in the United States decreased by 0.7% in October, the same rate recorded in September, and the saving rate in the United States decreased by 13.6% during the month of October compared to 14.6% recorded in September. The data also showed today that the trade balance deficit of US goods increased by 1.2% to $ 80.3 billion in October compared to $ 79.4 billion in September, with exports rising to $ 126 billion and imports rising to $ 206.3 billion.