Consumer Spending Falls in September

Washington, DC, Oct. 31, 2008--Consumer spending fell 0.4% in September, the Commerce Department reported Friday.

This is the biggest drop since June 2004. Income rose 0.2% in September after a 0.4% rise in August. Real disposable incomes rose 0.1% in September.

The core personal consumption expenditure price index rose 0.2% in September compared with August and is up 2.4% in the past year.

Wall Street economists had expected a 0.1% gain in incomes, a 0.3% fall in spending and a 0.2% rise in the core PCE.