Personal income in the United States grew a bit slower during October, yet still outpaced a modest increase in consumer spending, while inflation gauges held steady.

Personal income advanced at a seasonally adjusted rate of 0.4%, after increasing an unrevised 0.5% in September, the U.S. Commerce Department said today.

Personal spending grew 0.2%, after falling a revised 0.2% in September. Originally, the government said spending grew by 0.1% in September.

Wall Street economists had forecast a 0.5% climb in personal income during October and a 0.1% increase in consumer spending.

A price index for personal consumption expenditures — or PCE — excluding food and energy increased by 0.2% in October compared with a month earlier. It grew 0.2% in September.

Compared with a year earlier, the core PCE price index rose 2.4% last month. It went up 2.4% in September. The Federal Reserve’s comfort zone is 1% to 2% for the inflation gauge.

While the economy weakened in the third quarter from the second quarter — 2.2% vs 2.6%, its big engine, consumer spending, actually got stronger, recent data show; it is housing that is a heavy drag on growth these days.

Today’s report said spending on durable goods, designed to last three years or longer, grew 0.2% in October, after a 0.1% rise in September. Non-durable goods spending decreased 0.6% in October after a 1.5% drop the previous month. September spending on services rose 0.6%.

A large component of personal income, wages and salaries, increased by 0.6% last month. After-tax income, also known as disposable personal income, expanded 0.3% in October, after increasing 0.5% during September.

Personal saving as a percentage of disposable personal income was negative 0.6% last month, marking the 19th straight month that this measure of savings has been in the red.