ECON: Consumer Spending and Income Both Exactly as Expected
- Spending +0.3, as expected
- Income +0.4, as expected
- Market Reaction: None. Waiting on Consumer Sentiment at 9:55am.
Personal income increased $57.2 billion, or 0.4 percent, and disposable personal income (DPI)
increased $56.2 billion, or 0.5 percent, in August, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $34.5 billion, or 0.3 percent. In July, personal
income increased $21.2 billion, or 0.2 percent, DPI increased $32.7 billion, or 0.3 percent, and
PCE increased $18.3 billion, or 0.2 percent, based on revised estimates
Personal outlays -- PCE, personal interest payments, and personal current transfer payments -- increased
$38.4 billion in August, compared with an increase of $22.2 billion in July. PCE increased
$34.5 billion, compared with an increase of $18.3 billion.