U.S. Personal Income, Spending Climb More Than Expected In September

RTTNews | il y a 1034

(RTTNews) - A report released by the Commerce Department on Friday showed personal income in the U.S. rose by slightly more than expected in the month of September.

The Commerce Department said personal income climbed by 0.4 percent in September, matching the upwardly revised increase in August.

Economists had expected personal income to rise by 0.3 percent, which would have matched the growth originally reported for the previous month.

The slightly stronger than expected personal income growth primarily reflected increases in compensation and personal income receipts on assets.

Disposable personal income, or personal income less personal current taxes, also rose by 0.4 percent in September after climbing by 0.5 percent in August.

The report also showed personal spending increased by 0.6 percent in September following an upwardly revised 0.6 percent advance in August.

Personal spending was expected to climb by 0.4 percent, matching the increase originally reported for the previous month.

Real personal spending, which excludes price changes, edged up by 0.3 percent for the second consecutive month.

With spending increasing by more than income, personal saving as a percentage of disposable personal income fell to 3.1 percent in September from 3.4 percent in August.

Meanwhile, a reading on inflation said to be preferred by the Federal Reserve showed the annual rate of core consumer price growth accelerated to 5.1 percent in September from 4.9 percent in August.

Economists had expected the annual rate of growth in core consumer prices, which exclude food and energy prices, to accelerate to 5.2 percent.

"Inflation is too high for the Fed and we think the stage is set for another 75bps rate hike by the Federal Reserve in November, followed by a 50bps increase in December," said Oren Klachkin, Lead U.S. Economist at Oxford Economics.

A separate report from the Labor Department showed its employment cost index shot up by 1.2 percent in the third quarter after surging by 1.3 percent in the second quarter. The jump matched economist estimates.

The annual rate of growth by the employment cost index slowed slightly to 5.0 percent in the third quarter from 5.1 percent in the second quarter.

Tags: USD

U.S. Consumer Confidence Index Edges Lower In August

A report released by the Conference Board on Tuesday showing a modest deterioration by consumer confidence in the U.S. in the month of August. The Conference Board said its consumer confidence index dipped to 97.4 in August from an upwardly revised 98.7 in July.

RTTNews | il y a 1

U.S. Durable Goods Orders Slump 2.8% In July, Much Less Than Expected

Reflecting a continued plunge by orders for transportation equipment, the Commerce Department released a report on Tuesday showing a steep drop by new orders for U.S. manufactured durable goods in the month of July. The Commerce Department said durable goods orders slumped by 2.8 percent in July after plummeting by a revised 9.4 percent in June.

RTTNews | il y a 1

U.S. Durable Goods Orders Tumble Less Than Expected In July

RTTNews | il y a 1

U.S. New Home Sales Pull Back From Upwardly Revised Level In July

New home sales in the U.S. decreased from an upwardly revised level in the month of July, according to a report released by the Commerce Department on Monday. The Commerce Department said new home sales fell by 0.6 percent to an annual rate of 652,000 in July after surging by 4.1 percent to an upwardly revised rate of 656,000 in June.

RTTNews | il y a 2

Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Federal Reserve Chair Jerome Powell delivered a highly-anticipated speech before the Jackson Hole Economic Symposium on Friday, although he touched only briefly on the outlook for monetary policy. "With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," Powell said.

RTTNews | il y a 5

U.S. Leading Economic Index Edges Down In Line With Estimates In July

A reading on leading U.S. economic indicators edged slightly lower in the month of July, according to a report released by the Conference Board on Thursday. The Conference Board said leading economic index slipped by 0.1 percent in July after falling by 0.3 percent in June. The modest decrease matched economist estimates.

RTTNews | il y a 6

U.S. Existing Home Sales Unexpectedly Rebound In July

The National Association of Realtors released a report on Thursday showing an unexpected rebound by existing home sales in the U.S. in the month of July. The report said existing home sales jumped by 2.0 percent to an annual rate of 4.01 million in July after tumbling by 2.7 percent to an annual rate of 3.93 million in June.

RTTNews | il y a 6

Philly Fed Index Unexpectedly Returns To Negative Territory In August

Manufacturing activity in the Philadelphia area has weakened in the month of August, the Federal Reserve Bank of Philadelphia revealed in a report released on Thursday. The Philly Fed said its diffusion index for current general activity tumbled to a negative 0.3 in August from a positive 15.9 in July, with a negative reading indicating contraction.

RTTNews | il y a 6

EURUSD	1.16366	GBPUSD	1.35028	AUDUSD	0.65113
USDJPY	147.281	USDCAD	1.37829	USDCHF	0.80194