According to a report released by the Department of Commerce on Thursday, US income and expenses rose by more than 10 percent.
The Department of Commerce reported that personal income increased 0.5 percent in October after rising in September by 0.2 percent. Economists had expected revenue to increase by 0.4 percent.
In addition, the report says personal expenses rose 0.6 percent in October, after rising 0.2 percent in the previous month. Expenditures were also expected to increase by 0.4 percent.