Revenues and expenses of Americans exceeded forecasts in October

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In October, US citizens increased their incomes by 0.5% compared to September, when their growth was at the level of 0.2%, the country's Department of Commerce reported. At the same time, their expenses showed the strongest growth since March, having increased by 0.6% versus the previous month. According to experts, the expected growth of both indicators was by 0.4%. For the month, the PCE Core index increased by 0.1%, for the year its growth was 1.8%. American spending during the Christmas holidays is expected to show growth due to tax cuts and higher incomes. The increase in real disposable incomes of US citizens was 0.3%, which is higher than growth by 0.1% in September. Salaries and wages rose in October by 0.2%.

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