Economic Statistics for 2 Mar 15
Personal income rose 0.3% in January, while consumer spending fell -0.2%. The PCE Price index, an inflation measure, fell -0.5%, though the core index, i.e., ex-food and -energy, rose 0.1%. On a year-over-year basis, income rose 4.6%, while spending rose 3.6%. ON the same basis, the PCE Price index is up 0.2% at the headline level, and 1.3% at the core.
Gallup’s self-reported Daily Consumer Spending measure was little changed in February, at $82, versus $81 in January.
The Markit PMI manufacturing index for February rose 1.2 points from the final January reading, coming in at 55.1.
The ISM Manufacturing Index weakened by -0.6 points to 52.9 in February.
January construction spending was worse than expected, with a -1.1% decline. On a year-ago basis, spending is up only 1.8%.