Personal income increased $93.4 billion (0.5 percent) in October according to estimates released today by the Bureau of Economic Analysis (tables 3 and 5). Disposable personal income (DPI) increased $63.0 billion (0.3 percent) and personal consumption expenditures (PCE) increased $214.3 billion (1.3 percent). Real DPI decreased 0.3 percent in October and Real PCE increased 0.7 percent; goods increased 1.0 percent and services increased 0.5 percent (tables 5 and 7). The PCE price index increased 0.6 percent. Excluding food and energy, the PCE price index increased 0.4 percent (table 9). The increase in personal income ... (full story)

Despite sentiment slumping and buying attitudes crashing, retail sales outperformed this month (thanks to inflation driving nominal prices higher) and analysts expected spending to surge faster than incomes once again and they did with incomes rising 0.5% MoM (+0.2% MoM exp) and spending jumping 1.3% MoM (+1.0% MoM exp). Purchases of goods and services, unadjusted for changes in prices, increased 1.3% following a 0.6% gain in September, Commerce Department figures showed Wednesday. On the income side, Private worker wages rise to match all time high at 8.4% Y/Y, Government worker wages drop to 11.0%, the lowest since ... (full story)