WASHINGTON — October personal consumption expenditures posted a 0.2% rise and personal income grew 0.2%, a tad weaker than expected.
Core PCE prices were up 0.2% for a 1.6% increase over the year, still low.
Real PCE posted a 0.2% increase, so Q4 starts at about a 1.5% increase on a seasonally adjusted annual rate.
Real durables spending was lower despite strong unit sales for new autos.
Private wages advanced $18.8 billion after a $13.9 billion gain in September as manufacturing did better. All other income types advanced except government transfers (down $1.8 billion) as Medicare and Medicaid payments were cut.
Income data for Q2 were revised (known from the GDP report), with few implications for the future.
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