The BEA’s Personal Income and Outlays report shows personal incomes rose 0.3%.
“Real DPI increased less than 0.1 percent in September and Real PCE increased 0.3 percent.”
Spending rose 0.5% but the BEA revised August from +0.0% to -0.1% so effectively spending increased 0.4% from the unrevised number.
The reported numbers were mostly in-line with the Econoday Consensus Estimates.
Real Disposable Personal Income Year-Over-Year
Econoday calls the report “solid” but sees the inflation data as “mixed to soft”.
The Econoday parrot is always happy when consumers have less real money to spend. The above chart simply is too “soft”.
The parrot would have been happier had inflation advanced more and consumers effectively made nothing.
Mike “Mish” Shedlock
“Lies, damned lies, and statistics”….especially government statistics
From reader John in Arizona;
1. Currently, is the money supply plus credit, marked to market expanding or contracting?
2. Where do I go to get this information on my own?
There is no metric actually
But a good tell is junk bonds – Are they rising in price or falling?
How will the upcoming increase in Obamacare premiums affect the disposable income?
Tony Bennett said:
Though not enough to be revised by a tenth. July and August personal income revised lower.
July … $66.1 billion –> $63.9 billion
August … $39.3 billion –> $35.2 billion