Day of disappointing economic data in the United States. In October personal expenses decreased by 0,2% compared to the previous month: the figure, communicated by the Department of Commerce, is slightly worse than the expectations of analysts, who expected an unchanged reading.
This is the first drop since May. In September, the result was up by 0,8%. The survey measures purchases by American consumers of products such as cars, clothing, food and services. Including inflation, the October figure stood at -0,3%, against +0,4% the previous month.
As for the personal incomes, their growth in October was less than 0,1%, while estimates were for an increase of 0,2%. However, the figure remained positive for the eleventh consecutive month. The savings rate instead grew by 3,4%, from +3,3% in September.
