Personal Income, Construction Spending and ISM Index
Personal Income +0.8% vs prior +0.3%, Personal Spending +0.6 vs prior 0.2%.
Inside the number: Core PCE deflator jumps +0.3%; Core inflation YOY +2%. From Table 11 YOY % increase in PCE price index: Non durable goods +4.3% & services +3.4% Full Report
Showing increased consumer spending at the pump, a rise in personal income largely due to payments under the new Medicare drug program and a raging core inflation rate. Bonds got clobbered pushing the 30 year to 5.25% and 10 year to 5.14%
Construction Spending +0.9% vs prior +1.0%, Showing builders want to get it built quick so they can have a chance of selling it. Full Report
ISM Index 57.3 vs prior 55.2. Inside the number: Prices paid 71.5% vs prior 66.5%.
Showing brisk activity, increasing backlogs, tight labor and a large jump in prices paid in the manufacturing sector. All pointing to reduced economic slack and potential increases in inflation and interest rates. Full Report
Inside the number: Core PCE deflator jumps +0.3%; Core inflation YOY +2%. From Table 11 YOY % increase in PCE price index: Non durable goods +4.3% & services +3.4% Full Report
Showing increased consumer spending at the pump, a rise in personal income largely due to payments under the new Medicare drug program and a raging core inflation rate. Bonds got clobbered pushing the 30 year to 5.25% and 10 year to 5.14%
Construction Spending +0.9% vs prior +1.0%, Showing builders want to get it built quick so they can have a chance of selling it. Full Report
ISM Index 57.3 vs prior 55.2. Inside the number: Prices paid 71.5% vs prior 66.5%.
Showing brisk activity, increasing backlogs, tight labor and a large jump in prices paid in the manufacturing sector. All pointing to reduced economic slack and potential increases in inflation and interest rates. Full Report
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