Personal income in August rose 0.3%, missing the estimated figure of 0.4%, while personal spending rose 0.4% in August, beating expectation of a 0.3% rise. The upbeat data comes after the upward revision of the US Q2 GDP and consumption number on Friday.
The report showed the price index tied to consumer spending (Fed’s preferred gauge of inflation) was unchanged in August. From a year earlier, the gauge was up 0.3%. The core figure rose 0.1% from the month before and 1.3% in the 12 months ended August.
Overall the report is slightly upbeat, given the uptick in the personal spending. The saving rate of 4.6% is slightly lower than earlier in the year.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.