Slower Growth in Consumer Spending.

Personal Income and Outlays  (June 2015)

– Personal Income month/month  +0.4%. Previous was  +0.4%
– Consumer Spending month/month  +0.2%. Previous was +0.7%
– PCE Price Index month/month  +0.2%. Previous was +0.3%
– Core PCE price index month/month  +0.1%. Previous was +0.1%
– Personal Income year/year  +4.1%. Previous was +4.2%
– Consumer Spending year/year    +3.4%. Previous was +3.7%
– PCE Price Index year/year   +0.3%. Previous was +0.2%
– Core PCE price index -year/year  +1.3%. Previous was +1.3%.

The decrease in growth of Consumer Spending was expected. Inflation remains well contained.  This is yet another indication that the Fed would do best to not increase rates this year.

 

ISM Manufacturing Index  (July 2015)

– ISM Manufacturing Index  52.7. Previous was 53.5.

 

PMI Manufacturing Index (July 2015)

– Index Level   53.8. Previous was 53.6

 

Construction Spending  (June 2015)

– Construction Spending month/month +0.1%. Previous was +1.8%
– Construction Spending year/year   +12.0%.

Construction on single-family homes was down 0.3%.