Personal Income increased 0.5%, by $59.3 billion in August, to $12,571.0 billion seasonally adjusted at annual rates, higher than the expected 0.3% increase, after increasing by 0.2% in July. Net of taxes Disposable Personal Income increased 0.5%, by $52.0 billion, to 11,410.2, after increasing by 0.2% in July. Personal Consumption Expenditures increased by $41.3 billion, or 0.4%, higher than the expected 0.3% increase, after increasing by 0.4% in July. With the rate of income growth higher than the rate of spending, the Personal Savings Rate increased to 5.8% of disposable income, after decreasing to 5.7% in July, originally reported at 5.9%.
ISM Manufacturing Index figures are expected today at 10:00 AM EST. The ISM Manufacturing Index increased to 56.3 in August, following a decrease to 55.5 in July from the 56.2 level in June.
Construction Spending figures are expected today at 10:00 AM EST. Construction Spendingdecreased by 1.0% to $805.2 billion during July. Year over year, construction spending had declined by 10.7% from the July 2009 estimate of $901.2 billion.
Upcoming Releases
ISM Manufacturing Index (10/01 at 10:00 AM EST)
Construction Spending (10/01 at 10:00 AM EST)
Construction Spending (10/01 at 10:00 AM EST)
Pending Home Sales (10/04 at 10:00 AM EST)
Factory Orders (10/04 at 10:00 AM EST)
