- Analytics
- News and Tools
- Market News
- U.S. consumer spending rises 0.5 percent in October, income declines 0.7 percent
U.S. consumer spending rises 0.5 percent in October, income declines 0.7 percent
The Commerce
Department reported on Wednesday that consumer spending in the U.S. rose 0.5 percent
m-o-m in October after a revised 1.2 percent m-o-m increase in September (originally
a 1.4 percent m-o-m gain). Economists had forecast the reading to show a 0.4
percent m-o-m advance.
Meanwhile,
consumer income decreased 0.7 percent m-o-m in October, following a revised 0.7
percent m-o-m gain in the previous month (originally a 0.9 percent m-o-m growth). Economists
had forecast no change m-o-m.
The October drop
in personal income reflected a decrease in government social benefits that was
partly offset by gains in compensation and proprietors’ income (led by farm).
The personal
consumption expenditures (PCE) price index, excluding the volatile categories
of food and energy, which is the Fed's preferred inflation measure, was
unchanged m-o-m in October, following an unrevised 0.2 percent m-o-m increase
in the prior month.
Economists had projected the index would be flat m-o-m.
In the 12 months through October, the core PCE
increased 1.4 percent, following a revised 1.6 percent climb in the 12 months
through September (originally a 1.5 percent climb). Economists had forecast an
advance of 1.4 percent y-o-y.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
