Personal Income and Spending Flatten.
Personal Income and Outlays (September 2015)
– Personal Income month/month +0.1%. Previous was +0.4%
– Consumer Spending month/month +0.1%. Previous was +0.4%
– PCE Price Index month/month -0.1%. Previous was +0.0%
– Core PCE price index month/month +0.1%. Previous was +0.1%
– PCE Price Index year/year +0.2%. Previous was +0.3%
– Core PCE price index year/year +1.3%. Previous was +1.3%
Income, Spending and inflation were all down despite Wednesday’s FOMC statement saying “Household spending and business fixed investment have been increasing at solid rates in recent months.”
Employment Cost Index (3rdQ2015)
– ECI quarter/quarter +0.6%. Previous was +0.2%
– ECI year/year +2.0%. Previous was +2.0%.
Chicago PMI (October 2015)
– Business Barometer Index 56.2. Previous was 48.7.
This is one of the few positive regional reports we have seen lately.
University of Michigan Consumer Sentiment (October 2015)
– Sentiment Index 90.0. Previous was 92.1.
This is an index which surveys 500 households asking their opinions about the economy in an attempt to infer their spending in the next 3 months.