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ECON: Spending Hits Expectations While Incomes Decelerate
Posted to: Micro News
Monday, December 23, 2013 8:43 AM
- Consumer Spending +0.5 vs +0.5 forecast
- Income +0.2 vs +0.5 forecast
- Annual Core PCE Prices +1.1 vs +1.1 previously
- Market Reacion: MBS and Treasuries improved almost imperceptibly, but it wasn't clearly a result of the data.
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased $62.6 billion
in November, compared with an increase of $43.9 billion in October. PCE increased $63.0 billion, compared with an
increase of $44.2 billion.
Personal income increased $30.1 billion, or 0.2 percent, and disposable personal income (DPI) increased
$16.2 billion, or 0.1 percent in November according to the Bureau of Economic Analysis. Personal consumption
expenditures (PCE) increased $63.0 billion, or 0.5 percent. In October, personal income decreased $11.7
billion, or 0.1 percent, DPI decreased $25.6 billion, or 0.2 percent, and PCE increased $44.2 billion,
or 0.4 percent, based on revised estimates.
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