More Economic Progress As Americans Spend In September

October 30, 2020

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More Economic Progress As Americans Spend In September — *Image by Toosu*

Americans spent money in September with Personal Spending easily beating expectations in numbers released this morning. Michigan Consumer Sentiment also beat, as well as Chicago Purchasing Managers' Index.

Financial markets are down big this morning mainly on option-related trading pressure, and big-tech losing its brilliance in the face of its election interference.

A win for President Trump on Tuesday will juice the stock market higher. A Biden win will bring the opposite and over-regulation and more government interference in markets will be the norm.

Personal Consumption Expenditures-Price Index (YoY) (Sep) printed at 1.4% vs 1.3% consensus estimate.

Core Personal Consumption Expenditure (MoM) (Sep) printed at the estimate of 0.2%.

Personal Income (MoM) (Sep) printed at 0.9% vs 0.4% estimate.

Personal Consumption Expenditures-Price Index (MoM) (Sep) printed at 0.2% vs 0.1% estimate.

Employment Cost Index (Q3) printed at the estimate of 0.5%.

Personal Spending (Sep) printed at 1.4% vs 1% estimate.

Core Personal Consumption Expenditure-Price Index (YoY) (Sep) printed at 1.5% vs 1.7% estimate.

Chicago Purchasing Managers' Index (Oct) printed at 61.1 vs 58 estimate.

Michigan Consumer Sentiment Index (Oct) printed at 81.8 vs 81.2 estimate.

Author

CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."