Replies to post #6823 on Blashing for Profits (BLASH)

[blasher]

Personal Income and Outlays . . .
Released on 10/1/2010 8:30:00 AM For Aug, 2010

Highlights

Despite sluggish job growth, the combination of modest growth in average hourly earnings, private employment, and steady or firming weekly hours is gradually boosting wages and salaries-at least in the private sector. Personal income in August advanced a healthy 0.5 percent gain, following a 0.2 percent rise the month before. The latest number for personal income topped the market forecast for a 0.3 percent gain. Unfortunately, a notable part of the latest increase came from a jump in government unemployment benefits. Still, there was moderate strength in wages & salaries component which posted a 0.3 percent boost after increasing 0.4 percent in July. Private industry wages & salaries rose a sharp 0.5 percent, matching the July gain.

In August, consumers kept their wallets open. Personal spending advanced 0.4 percent, equaling the pace in July. The August figure matched analysts' expectations. By components, durables slipped 0.2 percent, nondurables jumped 1.4 percent, and services gained 0.2 percent

PCE inflation was a little higher than usual at the headline level but still quite subdued at the core. The PCE price index rose 0.2 percent in both August and July. The core rate firmed 0.1 percent in each of the last four months. The market had called for a 0.1 percent uptick for August.
c/o Econoday

[blasher]

Recession return fears ease in Mid-America-survey . . .
CHICAGO, Oct 1 (Reuters) - Fears of a double-dip recession are easing in nine U.S. Midwest and South-Central states as the economic outlook brightens, according to a survey of supply managers released on Friday.

Creighton University's Business Conditions Index rose for the first time since May, climbing to 56.3 in September from 55.8 in August. A reading of 50 is considered growth neutral, while a reading above that signals expansion over the next three to six months.

"The region will experience improving economic conditions in the months ahead with little likelihood of a double-dip recession," the survey said.

However, Creighton University Economics Professor Ernie Goss said that economic growth in the region and the United States will be restrained if federal income tax cuts that expire at year end are not extended.

. . .

full article and data: http://www.creighton.edu/business/economicoutlook/regional/midamericanstates/index.php

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[blasher]

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