The personal spending in October ticked 0.1% higher, compared to the estimated rise to 0.3% from Sep’s 0.1%. Personal income printed at 0.4% as estimated from Sep’s 0.1%. The core personal consumption expenditure (PCE) price index printed in line with the estimates and unchanged at 1.35 year-on-year. Month-on-month, the core PCE stalled, missing the estimate of 0.1% rise.
Non-military cap goods orders drop
Meanwhile, corporate spending as represented by the durable goods orders figure printed at 3.0%, compared to the estimated rise to 1.5% in October from Sep’s -1.2%. Bookings for non-military capital goods excluding aircraft rose 1.3%, the most in three months, after an upwardly revised 0.4 % increase in September.
Shipments of non-military capital goods excluding aircraft, used to calculate gross domestic product, decreased 0.4% compared to an upwardly revised Sep’s 0.7% reading.
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