WASHINGTON — Consumer spending posted a modest increase for a second straight month in October, while personal income rebounded after a sluggish September.
Spending edged up 0.1 percent after a similar tiny gain in September, the Commerce Department reported Wednesday.
Incomes jumped 0.4 percent, double the rise in September. Wages and salaries climbed 0.6 percent. That was the strongest wage gain in five months.
The second straight month of spending weakness could signal trouble, given that consumer spending accounts for 70 percent of economic activity. However, economists are counting on the strong labor market to bolster the incomes needed to fuel spending in the months ahead.