Intraday Economic News: U.S. Personal Income Rises 0.4% in October; Spending Up 0.1% Nov 11
Standard & Poors, November 2011
Abstract
U.S. personal income was up 0.4% month over month in October--slightly stronger than the 0.3% consensus expectation and the 0.1% pace seen in September. Consumer spending rose only 0.1% from the prior month. This was much weaker than the 0.4% consensus expectation and was surprising, given the stronger-than-expected October retail sales and the healthy International Council of Shopping Centers chain-store sales figures reported last week. This came after September spending was revised up to a 0.7% pace (was 0.6%). Disposable income rose 0.3% from a 0.1% pace in September. The savings rate rose to 3.5% in October from 3.3% the month before. The personal consumption expenditures price index fell 0.1% month over month, decelerating from the 0.2% pace in September....
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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