Personal Income Misses At 0.1%, Spending Right In Line


People shopping Black Friday

September personal income was +0.1%.  Analysts were expecting +0.3%.

Personal spending was +0.6%, which was exactly what analysts were expecting.

The full press release is available at the BEA website.

Spending has been surprisingly strong this year, despite weak consumer condfidence. Yesterday, we learned Q3 GDP came in line with expectations, largely due to an upside surprise in personal consumption expenditures.

Back in August, income unexpectedly fell 0.1%.  Spending was right in line at 0.2%. These figures were not revised.

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Source: http://feedproxy.google.com/~r/businessinsider/~3/ZJHjlTiC9Bs/personal-income-and-spending-september-2011-10

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