U.S. Personal Income Fell 0.1%; U.S. Consumer Spending Rose 0.2%
(For September 2010)
U.S. personal income fell 0.1% in September vs. 0.3% consensus and 0.5% August reading. On y-o-y level the personal income is up 3.1%.
Chart 1. U.S. Personal Income
U.S. consumer spending rose 0.2% in September vs. 0.4% consensus and 0.5% August reading. On y-o-y level the consumer spending is up 3.7%.
Chart 2. U.S. Consumer Spending
U.S. personal savings as a percentage of disposable income fell 0.5% to 5.3%.
Chart 3. U.S. Personal Savings – Percentage Of Disposable Income
This looks light at best… Q3 GDP growth will be revised down on smaller personal spending.