Economic Growth

4.9 Percent Personal Savings Rate a Nine-Month High

Incomes up .5 percent in September

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With personal income once again rising at a faster rate than personal spending, the Commerce Department released a report on Friday showing that the U.S. savings rate reached a nine-month high in September.

The report showed that personal income increased by 0.5 percent in September, matching the increase seen in August. Economists had been expecting income to rise by about 0.3 percent.