The BEA’s Personal Income and Outlays report for September 2018 shows personal income increased $35.7 billion in September.
Income
- Personal income increased $35.7 billion (0.2 percent).
- Disposable personal income (DPI) increased $29.1 billion (0.2 percent)
- Real DPI increased 0.1 percent in September.
Personal Consumption Expenditures
- Personal consumption expenditures (PCE) increased $53.0 billion (0.4 percent).
- Real PCE increased 0.3 percent.
PCE Price Index
- The PCE price index increased 0.1 percent.
- Excluding food and energy, the PCE price index increased 0.2 percent.
Updates to Personal Income and Outlays
The percent change from the preceding month for current-dollar personal income, and for current-dollar and chained (2012) dollar DPI and PCE — revised and previously published in last month’s release — are shown above.
The BEA revised both July and August.
This data is reflected in the BEA’s first estimate of third-quarter GDP last Friday.
Mike “Mish” Shedlock
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This doesn’t corroborate with decade lows in unemployment. Either the laws of supply and demand have changed or the data is not accurate. I lean towards the latter.
Crawl far enough down the financialization rathole, and every single supposedly “economic” metric, ceases to be anything more than various ways of indirectly measuring credit/money growth. Convenient for the money printers, as a corollary is that the “solution” to every lackluster measure, then becomes to simply print more money. Then hand it to banks, so they can create more credit, and make the supposedly economically meaningful metrics look “good” again….