Personal Income decreased 0.1%, by $16.8 billion in September, the first such decline in 14 months, to $12,546.4 billion seasonally adjusted at annual rates, against the expected 0.2% increase, after increasing by 0.4% in August. Net of taxes Disposable Personal Income decreased 0.2%, by $20.3 billion, to $11,382.3 billion, after increasing by 0.4% in August. Personal Consumption Expenditures increased by $17.3 billion, or 0.2%, the slowest pace in three months, lower than the expected 0.4% increase, after increasing by 0.5% in August. With the rate of income growth decreasing while the rate of spending increased, the Personal Savings Rate decreased to 5.3% of disposable income, after increasing to 5.6% in August, originally reported at 5.8%.
ISM Manufacturing Index figures are expected today at 10:00 AM EST. The ISM Manufacturing Index decreased to 54.4 in September, following an increase to 56.3 in August from the 55.5 level in July.
Construction Spending figures are expected today at 10:00 AM EST. Construction Spendingincreased by 0.4% to $811.8 billion during August. Year over year, construction spending had declined by 10.0% from the August 2009 estimate of $901.8 billion.
Upcoming Releases
ISM Manufacturing Index (11/01 at 10.00 AM EST)
Construction Spending (11/01 at 10.00 AM EST)
Construction Spending (11/01 at 10.00 AM EST)
Factory Orders (11/03 at 10.00 AM EST)
Crude Inventories (11/03 at 10.30 AM EST)
