Personal Income & Spending
Personal Income - Month/Month -0.1 %
Consumer Spending - Month/Month 0.2 %
Core PCE price index - Month/Month 0.1 %
Core PCE price index - Year/Year 1.6 %
This data and the graphs below are stark. With less money coming in and less money to spend the consumer cannot drive economic growth.
ISM - Chicago Business Barometer Index was 60.4. Previous was 56.5. Consensus was 55.4.
UMichigan Consumer Sentiment
- Index was 59.4
- Previous was 57.8
- Consensus was 57.8
This datum over 50 implied expansion but is inconsistent the Conference Board's Consumer Confidence released Tuesday which shows a smaller gain and an index under 50 implying contraction. I am guessing that one of them is correct.
Yesterday' Fed M2 Money Supply Report showed a $14.9 billion contracion in M2.
The H.6 Fed report shows excess banking reserves of $1,548,799,000,000.