Home Headline News America’s Economic News is Good

America’s Economic News is Good

by Paul Ebeling

#America #news

US personal incomes spiked in January as Americans received another round of aid/relief/stimulus checks, helping to re-charge the economy with the strongest spending advance in 7 months.

The 10% gainer in incomes exceeded forecasts followed a 0.6% gainer in December, a US Commerce Department report showed Friday. Purchases increased 2.4% from the prior month, following a downwardly revised 0.4% decliner in December.

The Fed’s PCE Price Index and Core PCE Price Index, which excludes food and energy, were both up 0.3%. That left Y-Y price changes at 1.5% from 1.3% in December and 1.5%, from 1.4% in December, respectively.

The Key takeaway from the report is this: (1) it shows aggregate inflation pressures were tame in January and (2) the report exposes the potential for a major pickup in spending by way of a personal savings rate that stands at 20.5% as a percentage of disposable personal income.

The final reading for the February University of Michigan Index (MSI) of Consumer Sentiment was revised up to 76.8 from the preliminary reading of 76.2.  The final February reading was below the final reading of 79.0 for January. The Chicago PMI for February decreased to 59.5 from an unrevised 63.8 in December.

The Advance report for International Trade in Goods for January showed a deficit of $83.7-B Vs $83.2-B in December.

The Advance report for Retail Inventories for January decreased 0.6%, while the Advance report for Wholesale Inventories for January increased 1.3%.

Looking Ahead: Investors will receive ISM Manufacturing Index for February, Construction Spending for January, and the final IHS Markit Manufacturing PMI for February Monday.

Have a healthy weekend, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.