Send Article via Email

- Spending -0.2 pct vs 0.0 consensus
- First decline in spending since May
- Income 0.0 vs +0.2 consensus, weakest since April
- "Real" Consumer Spending -0.3 pct, most since Sept 2009

Personal income increased [forwardfullbody].4 billion, or less than 0.1 percent, and disposable personal income (DPI) increased [forwardfullbody].8 billion, or less than 0.1 percent, in October, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $20.2 billion, or 0.2 percent. In September, personal income increased $47.8 billion, or 0.4 percent, DPI increased $42.1 billion, or 0.4 percent, and PCE increased $84.0 billion, or 0.8 percent, based on revised estimates.

Real disposable income decreased 0.1 percent in October, compared with an increase of less than 0.1 percent in September. Real PCE decreased 0.3 percent, in contrast to an increase of 0.4 percent.

Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- decreased $18.0 billion in October, in contrast to an increase of $87.3 billion in September. PCE decreased $20.2 billion, in contrast to an increase of $84.0 billion.

More from MND:

• Pipeline Press: Primer on Current Broker Compensation Plans - BPC & LPC; Reader Input on Different Topics
• MBS Commentary: MBS RECAP: Technically an Early Close, but Buyers Never Showed Up
• Mortgage Rate Watch: Mortgage Rates Hold Steady Ahead of 3-Day Weekend
• MBS Commentary: MBS MID-DAY: Negative Reprices in the AM: Breakfast of Champions
• MND NewsWire: Delinquency Rate Hits Post Housing Crisis Low for Freddie Mac

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.