WASHINGTON, Dec. 6 (Xinhua) -- U.S. families continued to boost their spending in October despite a decline in their take-home income, the Commerce Department Friday said in a report.
U.S. personal consumption expenditures (PCE) rose 0.3 percent in October, higher than the 0.2 percent growth rate in September, according to the report.
U.S. personal income edged down 0.1 percent in October, after rising 0.5 percent in September, said the department.
The U.S. savings rate, personal saving as a percentage of disposable personal income, ticked down to 4.8 percent in October from 5.2 percent in September.
Consumer spending accounts for about 70 percent of the U.S. economic activity, the main engine of U.S. economic growth.
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