--Oct Pers Inc +0.4%/PCE +0.1%;Initial Unemployment Claims a Low 260k
WASHINGTON (MNI) - The latest U.S. consumption, durables orders,
and unemployment claims data show the economy is growing at a somewhat
subdued pace at the beginning of Q4.
October Personal Income posted +0.4% and Personal Consumption
Expenditures a slower +0.1%. PCE core prices were flat for +1.3% over
the year, still subdued.
Private Wages advanced $43 billion after just +1.5 billion in
September. Proprietors' income, rents, income receipts, and transfers
were all higher. Revisions based on actual Q2 wage data also lifted
September wages a little.
But saving jumped to its highest since December, putting the saving
rate at 5.6%.