Personal income unexpectedly declined by -0.1% in August, while personal spending rose by 0.2%. The report also indicates that overall prices are 2.9% higher than the same period last year.
The Reuter’s/University of Michigan’s consumer sentiment index rose to 59.4 from 57.8. Consumer assessment of both current and future conditions improved.
The ISM Chicago Index rose to 60.4 on a sharp increase in new orders at firms in the Chicago area. A reading above 50 generally indicates an expansion. This report is always reviewed for indications of what the national ISM report will be. The national ISM Index will be released on Monday.