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ECON: Consumer Spending and Income Lower Than Expected
Posted to: Micro News
Friday, August 30, 2013 8:42 AM
- Spending +0.1 vs +0.3 forecast, +0.6 previously
- Income +0.1 vs +0.2 forecast, +0.3 previously
- Core PCE Prices +0.1 vs +0.2 forecast
Market Reaction: none. There was a brief spat of small improvement followed by modest weakness and we're currently back to pre-data levels across the board.
Personal income increased $14.1 billion, or 0.1 percent, and disposable personal income (DPI) increased $21.7 billion,
or 0.2 percent, in July, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE)
increased $16.3 billion, or 0.1 percent. In June, personal income increased $38.2 billion, or 0.3 percent, DPI
increased $27.3 billion, or 0.2 percent, and PCE increased $64.0 billion, or 0.6 percent, based on revised estimates.
Real disposable income increased 0.1 percent in July, in contrast to a decrease of 0.2 percent in June. Real PCE
increased less than 0.1 percent, compared with an increase of 0.2 percent.
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