U.S. consumers likely boosted spending in October, helping to power the broader economic recovery as businesses step up investment and the labor market tightens.
Economists surveyed by The Wall Street Journal estimated that consumer spending rose 1% in October from a month earlier and that personal incomes edged up 0.2% last month. The Commerce Department’s report on October personal income and spending is scheduled to be published at 10 a.m. Eastern time on Wednesday. It includes a key reading on inflation, the personal consumption expenditures price index.
