OctaFX | OctaFX Forex Broker
Open trading account
Back

US: Income growth a little soft - Wells Fargo

Despite slowing in other parts of the economy, a 0.4% consumer spending increase in November on top of big upward revisions to prior data means the consumer is on track to be a major driver of Q4 GDP growth, explained analysts at Wells Fargo. 

Key Quotes: 

“After having posted the largest monthly increase of the year in October, personal income increased again in November, climbing 0.2% from the month prior, a little softer than the 0.3% that was expected. Most income categories were positive including wages and salaries which accounted for more than a third of the overall increase.”

“Amid an otherwise sturdy backdrop for consumer spending, durable goods outlay have been only measured as a higher interest rate environment raises the cost of lending that often facilitates durable goods spending. Today’s report showed some newfound strength here with a 0.9% increase in November consumer durables spending.”

WH Adviser Navarro: Fed’s plan of 2 2019 rate hikes is ‘two too many’

In an interview with Nikkei, White House trade adviser Peter Navarro said that the administration believes that the Fed's plan of 2 2019 rate hikes is
Read more Previous

Japan CFTC JPY NC net positions declined to ¥-102.8K from previous ¥-98K

Japan CFTC JPY NC net positions declined to ¥-102.8K from previous ¥-98K
Read more Next
Start livechat