Last month's increase in consumer spending offered a fairly strong handoff from the July-September period to the current quarter. Economists polled by Reuters had forecast consumer spending rising 0.4% last month. When adjusted for inflation, consumer spending rose 0.3% after falling 0.2% in August. Consumer spending increased at a 2.1% annual pace after advancing at a robust 4.3% rate in the prior period. Consumer spending last month was lifted by a 1.3% surge in purchases of long-lasting manufactured goods such as automobiles.

Source: The Edge Markets October 31, 2016 13:53 UTC