Personal Income and Outlays (July 2013)
– Personal Income Month/Month +0.1%. Previous was +0.3%
– Consumer Spending Month/Month +0.1%. Previous was +0.6%
– PCE Price Index Month/Month +0.1%. Previous was +0.4%.
– Core PCE price index Month/Month +0.1%. Previous was +0.2%
– PCE Price Index Year/Year +1.4%. Previous was +1.3%.
– Core PCE price index Year/Year +1.2%. Previous was +1.2%.
PCE (Personal Consumption Expenditure) is an inflation index geared to what consumers actually buy.
The near-flat Personal Income and Consumer Spending are signs of continued very limited GDP growth.
Chicago PMI (August 2013)
– Business Barometer Index 53.0. Previous was 52.3.
University of Michigan Consumer Sentiment (August 2013)
– Sentiment Index 82.1. Previous was 80.0.
Despite flat wages and spending the consumer is in a better mood. This must have something to do with the Justice Department’s relaxed attitude to marijuana.