The latest snapshot of consumer and business activity was contained in a pair of reports released by the Commerce Department on Friday. CNBC's "Squawk Box" team sifted through the data and Anthony Chan, Chief Economist at JP Morgan Private Client had the instant analysis.
Today's economic numbers showed consumers increasing their spending by 0.5 percent last month, up from a 0.3 percent gain and the most since July. Incomes rose a modest 0.3 percent for the second month in a row. The income and spending figures aren't adjusted for inflation.