MNI: 5 Things We Learned From September Personal Income Data>

By Holly Stokes, Sara Haire, and Kevin Kastner

     WASHINGTON (MNI) - The following are the key points from the 

September personal income, spending, and price data released Monday by 

the Bureau of Economic Analysis: 

     - The core PCE price index +0.1% (+0.129% unrounded) for the fifth 

month in a row, as expected, while the y/y rate for core PCE held steady 

at +1.3% (matching lowest since Nov 2015), showing no signs core 

inflation is overheating ahead of the upcoming Fed meeting. 

     - Overall PCE price index +0.4%, led by 6.8% jump in energy, 

lifting year/year rate to +1.6% from +1.4% in August.

     - Personal income as expected +0.4% in September, while current 

dollar PCE +1.0% (largest increase since Aug 2009) vs +0.9% expected and 

real PCE was +0.6% after -0.1% in August. 

     - Income categories were higher, though the gain in transfer 

receipts was smaller than in August. Wages and salaries +0.4% as the 

0.5% rise in hourly earnings in September more than offset the drop in 

payrolls. 

     - September savings rate of 3.1%, smallest since Dec 2007 (3.0%), 

the personal saving level of $441.9B smallest level since Aug 2008.

 ** MNI Washington Bureau: 202-371-2121 ** 

[TOPICS: MAUDS$,M$U$$$,MAUDR$]