Personal income and spending riseA gradually improving job...

BUSINESS DIGEST

December 03, 1993

Personal income and spending rise

A gradually improving job market helped boost personal incomes in October, and Americans were helping the economy by spending that money.

Personal income rose 0.6 percent, the third increase in a row, to a seasonally adjusted annual rate of $5.47 trillion, the Commerce Department said yesterday. At the same time, consumer spending advanced for the seventh consecutive month, rising 0.8 percent, to a $4.47 trillion annual rate.

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