Consumer Spending Grows in September

Consumer personal spending increased 0.2% in September as incomes fell slightly, the Commerce Department said Monday.

The spending gain was smaller than economists’ forecasts of a 0.4% increase, Bloomberg reported. It was the smallest increase in the third quarter.

Personal incomes dipped 0.1%, the first decrease since July 2009, Commerce said. Economists had forecast a 0.2% increase.

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