U.S. Personal Income Unexpectedly Unchanged In October
27 Novembre 2019 - 11:47AM
RTTF2
The Commerce Department released a report on Wednesday showing
U.S. personal income came in nearly flat in the month of October,
while personal spending rose in line with economist estimates.
The report said personal income inched up by less than a tenth
of a percent in October after rising by 0.3 percent in September.
Economists had expected another 0.3 percent increase.
Meanwhile, the Commerce Department said disposable personal
income, or personal income less personal current taxes, edged down
by 0.1 percent in October after climbing by 0.3 percent in the
previous month.
Real disposable income, which is adjusted to remove price
changes, fell by 0.3 percent due to the unwinding of farm subsidies
paid out by the Trump administration and a decrease in interest
income as the Federal Reserve cut rates.
The report also said personal spending rose by 0.3 percent in
October after edging up by 0.2 percent for two straight months. The
increase in spending matched economist estimates.
Removing price change, real personal spending crept up by 0.1
percent in October following two consecutive 0.2 percent monthly
upticks.
"Penciling in modest gains for November and December, that
suggests that real consumption growth will slow from 2.9%
annualized in the third quarter to around 2.0% in the fourth," said
Andrew Hunter, Senior U.S. Economist at Capital Economics.
With spending rising and disposable income falling, personal
saving as a percentage of disposable personal income dropped to 7.8
percent in October from 8.1 percent in September.
A reading on inflation said to be preferred by the Federal
Reserve showed the annual rate of core consumer price growth
slipped to 1.6 percent in October from 1.7 percent in the previous
month.
Grafico Cross Sterling vs US Dollar (FX:GBPUSD)
Da Mar 2024 a Apr 2024
Grafico Cross Sterling vs US Dollar (FX:GBPUSD)
Da Apr 2023 a Apr 2024