With the finance world preparing to clock off for Christmas and the holidays, the personal income and spending numbers were released on Friday morning.
According to Bloomberg, personal income increased 0.1 percent to $8.5 billion. Disposable personal income decreased less than 0.1 percent to $5 billion.
The report, published by the Bureau of Economic Analysis, also said that personal consumption expenditure increased by 0.1 percent to $13.1 billion in November. Those figures compare to October, when personal income increased 0.4 percent to $47.2 billion, DPI increased 0.2 percent to $27.2 billion, and PCE increased 0.1 percent to $11.3 billion.
Bloomberg states that, “Private wage and salary disbursements decreased $7.1 billion in November, in contrast to an increase of $37.2 billion in October. Goods-producing industries' payrolls decreased $6.7 billion, in contrast to an increase of $8.6 billion; manufacturing payrolls decreased $6.9 billion, in contrast to an increase of $6.8 billion. Services-producing industries' payrolls decreased $0.3 billion, in contrast to an increase of $28.5 billion. Government wage and salary disbursements increased $0.1 billion in November, the same increase as in October.”
Elsewhere, regarding personal income, “Supplements to wages and salaries increased $1.1 billion in November, compared with an increase of $4.4 billion in October.
Proprietors' income decreased $3.5 billion in November, compared with a decrease of $2.5 billion in October. Farm proprietors' income decreased $4.2 billion, compared with a decrease of $4.3 billion. Nonfarm proprietors' income increased $0.9 billion, compared with an increase of $1.7 billion.”
The numbers are disappointing, particularly for a November when expectations were higher for the holiday shopping period.
The next release will be January 30. If you would like to be alerted to spending and income updates as they come out in real-time, signup for a free trial of Benzinga Pro's premium news service.
Market News and Data brought to you by Benzinga APIsACTION ITEMS:
Bullish:
Traders who believe that Public spending will increase might want to consider the following trades:
Traders who believe that this will be the pattern for some time to come may consider alternative positions:
Bullish:
Traders who believe that Public spending will increase might want to consider the following trades:
- Macy's M is always good for a New Year sale. Start there.
- Ditto JC Penney JCP, the perennial mall favorite.
Traders who believe that this will be the pattern for some time to come may consider alternative positions:
- C'mon. It's Christmas. Don't be a Grinch or a Krampus.
- BULLET POINT TEXT
- BULLET POINT TEXT
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in