Consumer Spending Biggest Jump Since 2009

Today we got the personal income and spending reports for September. These reports usually come the business day after the GDP report. This is a key report since consumer spending represents about two-thirds of the U.S. economy.

The report said that consumer spending rose 1% last month. That was the biggest monthly increase since August 2009. Personal income rose by 0.4%.

This report also includes an inflation report. The core version of this report, the core PCE, is the Fed’s favorite inflation measure. It’s risen by 0.1% for the last five months in a row.

Posted by on October 30th, 2017 at 11:45 am

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