Categories: Markets

Personal income and spending rise more than expected in September

The personal income and expense report rose more than expected in September, but it did not have an impact on the dollar in the market, nor the bags. The personal expense rose 1.4% above the 1% market consensus. For his part, personal income rebounded 0.9% after August’s 2.5% drop, beating the average analyst estimate of 0.4%.

The underlying price index of personal consumption expenditure, A measure of inflation closely followed by the Federal Reserve, it rose 0.2%, as expected. Compared to twelve months ago, it increased at a rate of 1.5%, lower than the 1.7% of the market consensus due to a downward revision of the previous month’s figures, which went from + 1.6% to + 1.4%.

At the same time the labor cost index which registered an advance of 0.5% in line with expectations.

Later on Friday the Chicago PMI October and University of Michigan Consumer Sentiment Index.

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Credits: Forex Street