Personal Spending, Incomes Gain in October

.S. consumer spending rose 0.2% in October, while incomes rose 0.4%, the Commerce Department reported Thursday.

The spending rise followed a 0.5% gain in September, Commerce said. Excluding spending on food and energy costs, the so-called “core” spending rate rose 0.1%.

Consumer spending increases can boost demand for new factory goods and the trucking shipments that get them to stores.

Auto sales dropped to a seven-year low in October, Bloomberg reported.