Feb 1: ISM Index at 6 Year High - Economic Highlights

Personal Income increased 0.4%, by $44.5 billion in December, to $12,253.1 billion seasonally adjusted at annual rates, and was expected to increase by 0.3%, following a 0.5% increase in November, originally reported as an increase of 0.4%. Net of taxes Disposable Personal Income increased by 0.4%, by $45.9 billion, to $11,179.5 billion, after rising 0.5% in November. As incomes grew, Personal Consumption Expenditures increased by 0.2%, lower than the expected 0.3% increase, following a 0.7% increase in November, revised from 0.5%. With the rate of spending lower than the rate of income growth, the Personal Savings Rate rose to 4.8% of disposable income from 4.5% in November.

The ISM Manufacturing Index increased to 58.4 in January, following an increase to 55.9 in December from the 53.6 level in November. After showing expansion for 6 consecutive months, the figure had reached its highest level since August of 2004, when it was at 58.5.

Construction Spending fell by 1.2% to $902.5 billion, worse than the expected 0.4% decline. Year over year, construction spending had declined by 9.9% from the December 2008 estimate of $1,002.8 billion.

Upcoming Releases
Pending Home Sales (02/02 at 10:00 AM EST)
ISM Services Index (02/03 at 10:00 AM EST)
Initial Claims (02/04 at 8:30 AM EST)
Factory Orders (02/04 at 10:00 AM EST)

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