Consumer spending dipped in September, worker pay shot up in Q3

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 30, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Mumbai) - The Commerce Department released today showed the consumer spending in September rose by the smallest amount since the start of the year as consumers spent less on gasoline.

    Spending rose a seasonally adjusted 0.1% last month, missing the estimated rise of 0.2%. Meanwhile, personal income also rose 0.1% last month, the smallest increase since March.

    Inflation as gauged by the PCE price index declined 0.1% - the first drop since January –due to drop lower gas prices. The core PCE index that excludes food and energy ticked up 0.1%, and is up a 1.3% over the past year.

    Meanwhile, another set of data released by the Labor Department showed Wages and salaries rose in the third quarter at a faster pace in Q3. Worker pay rose 0.6% in Q3 compared to a 0.2% increase seen in Q2.
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