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Personal Income and Spending Below Expectations

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Economic Update: Personal Income and Spending

Personal Incomes were unchanged in October, which was below the consensus expectations for an increase of +0.2%.

The September level was unrevised at +0.4% (August: +0.1%, July: +0.1% June: +0.3%, May: +0.3%, April: +0.2% March +0.4%).

Personal Spending (now called â??Consumptionâ?) for the month fell by -0.2%, which was also below the expectations for +0.1% and above last monthâ??s +0.8% (August: +0.5%, July: +0.4, June: 0.0%, May: +0.1%, April: +0.3% March +0.2%).

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About the Author

David Moenning is the Chief Investment Officer at Sowell Management Services. Dave began his investment career in 1980 and has been an independent money manager since 1987. Thus, Dave has been live on the firing line and investing for a living for more than 29 years.