November 1, 2010 / 12:36 PM / 9 years ago

Consumer spending edges up in September

Holiday shoppers walk through Time's Square in New York November 27, 2009. REUTERS/Brendan McDermid

WASHINGTON (Reuters) - U.S. consumer spending rose by less than expected in September as income fell for the first time in 14 months, while inflation remained muted, according to a government report on Monday that reinforced expectations of more monetary stimulus from the Federal Reserve this week.

The Commerce Department said spending rose 0.2 percent after rising by an upwardly revised 0.5 in August.

Analysts polled by Reuters had forecast spending, which accounts for about 70 percent of U.S. economic activity, rising 0.4 percent in September from a previously reported 0.4 percent in August.

Reporting by Lucia Mutikani, Editing by Chizu Nomiyama

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