Here Comes Personal Income And Spending...
Nov 8, 2013, 18:49 IST
At 8:30 a.m. ET, we'll get the September personal income and spending report.
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Economists estimate that income climbed by 0.3%, while spending increased by just 0.2%.
"The employment report showed a modest 0.3% gain in aggregate private sector wages, but overall personal income should get a bit of an additional boost from gains in farm profits, dividends, and rental income," said Morgan Stanley's Ted Wieseman. "Meanwhile, auto sales pulled back in September, but the core retail control gauge posted a solid 0.5% gain, and a rebound in utility demand should support a better result for services consumption, so we look for a solid rise in personal spending."