Personal Income increased 0.1%, by $11.4 billion in January, to $12,170.4 billion seasonally adjusted at annual rates, and was expected to increase by 0.4%, following a 0.3% increase in December, originally reported as an increase of 0.4%. Net of taxes Disposable Personal Income decreased by 0.4%, by $47.6 billion, to $11,045.8 billion, after rising 0.4% in December. As incomes grew, Personal Consumption Expenditures increased by 0.5%, higher than the expected 0.4% increase, following a 0.3% increase in December, revised from a 0.2% increase. With disposable personal income falling as spending increased, the Personal Savings Rate decreased to 3.3% of disposable income from 4.2% in December.
ISM Manufacturing Index figures are expected today at 10:00 AM EST. The ISM Manufacturing Index increased to 58.4 in January, following an increase to 55.9 in December from the 53.6 level in November. After showing expansion for 6 consecutive months, the figure had reached its highest level since August of 2004, when it was at 58.5.
Construction Spending figures are expected today at 10:00 AM EST. Construction Spending fell by 1.2% to $902.5 billion during December, worse than the expected 0.4% decline. Year over year, construction spending had declined by 9.9% from the December 2008 estimate of $1,002.8 billion.
Upcoming Releases
ISM Manufacturing Index (03/01 at 10:00 AM EST)
Construction Spending (03/01 at 10:00 AM EST)
Construction Spending (03/01 at 10:00 AM EST)
ISM Services Index (03/03 at 10:00 AM EST)
Crude Inventories (03/03 at 10:30 AM EST)
