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September 27, 2013

Personal Income and Spending up.

September 27, 2013

Personal Income and Spending up.

Personal Income and Outlays (August 2013)

– Personal Income Month/Month  0.4%. Previous revised to +0.2%

– Consumer Spending Month/Month 0.3%. Previous revised to +0.3%

– Personal Income Year/Year 3.7%. Previous revised to +3.4%

– Consumer Spending -Year/Year 3.2%. Previous revised to +3.2%

– PCE Price Index Month/Month  0.1%. – Core PCE price index Month/Month  0.2%.

– PCE Price Index Year/Year 1.2%. Previous revised to +1.3%

– Core PCE price index Year/Year 1.2%. Previous revised to +1.1%.

PCE is a measure of inflation geared toward what people spend their money on.

This data is positive for the economy.  Consumer Spending is the largest portion of GDP and Personal Income drives Consumer Spending.

University of Michigan Consumer Sentiment (September 2013)

– Consumer Sentiment level 77.8.  Previous was 82.1.

This flies counter to the Consumer Spending report above.  Consumer Sentiment is a survey index.