Personal income and spending rise more quickly than expected in October

By Alexander Bueso

Date: Wednesday 24 Nov 2021

(Sharecast News) - Americans continued splashing out briskly last month with price gains continuing to accelerate alongside.


According to the Department of Commerce, personal incomes increased by 0.5% month-on-month, beating economists' forecasts for a rise of 0.3%.

Personal consumption expenditures meanwhile jumped by 1.3% versus September (consensus: 0.9%).

Adjusted for inflation on the other hand, incomes were 0.3% lower while spending was up by a more restrained 0.7%.

The annual rate of increase in the PCE price index rose from 4.4% in September to 5.0% for October (consensus: 5.1%) and from 3.7% to 4.1% at the core level (consensus: 4.1%).

In parallel, the personal saving rate, which is calculated as a percentage of disposable personal incomes, or after tax income, dropped from 8.2% to 7.3%.

-- More to follow --

Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange Market.

« Go back to news channel

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE