Personal Income for the September was essentially flat decreasing by $0.1 billion during the month, less than 0.1%, as was expected, and currently stands at the $11,962.0 billion seasonally adjusted level, following a 0.1% increase in August (revised downward from an originally reported 0.2% annual growth rate). Net of taxes, Disposable Personal Income similarly was essentially flat, decreasing by $0.2 billion, which is less than a 0.1% decline, in line with expectations, at the $1088.7 billion dollar level, following a 0.1% increase in August. As incomes were virtually unchanged, Personal Consumption Expenditures eased down by 0.5%, down $45.7 billion, to a seasonally adjusted annual flow of $10,532.2, and was expected to decrease by 0.4% following a 1.4% growth rate in August, revised upward from an originally reported 1.3% increase. With the rate of spending declining by 0.5% against unchanged income levels, the Personal Savings Rate increased by this 0.5% growth rate differential to 3.3% of disposable income in September from 2.8% in August.
Upcoming Releases
ISM Manufacturing Index (11/02 at 10:00 AM EST)
Construction Spending (11/02 at 10:00 AM EST)
Pending Home Sales (11/02 at 10:00 AM EST)
Factory Orders (11/03 at 10:00 AM EST)
