The following US economic statistics were announced today:

Personal income in August advanced 0.1%, while consumer spending increased 0.5%. Headline inflation rose 0.4%, while the core rate showed a 0.1% increase. On a year –over-year basis, incomes rose 3.5%, but spending rose 3.6%. The price index rose 1.5% overall, and the core rate rose 1.6%.

The Reuter’s/University of Michigan’s consumer sentiment index fell to 78.3 from this month’s earlier reading of 79.2.

The Chicago PMI posted at 49.7 in September, down 3.3 points from the prior month. This report is often a preview of the national PMI, due out Monday. New orders fell a steep 7.4 points, and backlog orders also fell. The steep, sudden decline in Chicago business conditions took analysts by surprise.

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Dale Franks
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