THE BASIS POINT

Personal Income up, Spending down.

 

Personal Income and Outlays (July 2014)

– Personal Income month/month  +0.2%. Previous was +0.5%

– Consumer Spending month/month -0.1%

– Personal Income Year/Year  +4.3%. Previous was +4.1%

– Consumer Spending Year/Year  +3.6%. Previous was +3.9%

PCE is an inflation gauge geared to consumer spending

– PCE Price Index month/month +0.1%

– Core PCE price index month/month  +0.1%

– PCE Price Index Year/Year  +1.6%  – Core PCE price index Year/Year  +1.5%

Personal Income growth was down but previous was revised upward.  Lower Consumer Spending is of concern and was unexpected.

 

Chicago PMI  (August 2014)

– Business Barometer Index 64.3. Previous was 52.6.

This is a survey index of manufacturers.

 

University of Michigan Consumer Sentiment (August 2014)

– Sentiment Index 82.5. Previous was 79.2.

This is supposed to measure consumer spending in the next 90 days.

 

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