Spending rose at a faster pace for goods (+1.3 percent from +1.2 percent in September), boosted by nondurable goods (+1.4 percent from +0.7 percent) while consumption of durable goods slowed (+1 percent from +2.1 percent). Spending on services fell by 0.2 percent, after growing by 0.5 percent the previous month.
Personal income went up 0.6 percent, compared to a 0.4 percent gain in September and market expectations of a 0.4 percent increase. It primarily reflected increases in compensation of employees (+0.5 percent from +0.4 percent in September) and personal interest income (+1.8 percent from +0.2 percent). Real DPI increased by 0.4 percent, following a 0.2 percent rise in the previous month.
The PCE price index increased 0.2 percent from September, the same as in the previous month. Excluding food and energy, the PCE price index edged up 0.1 percent, the same as in September.