The assumption by some economists that consumer spending and income is “rolling over” took a blow in today’s February update from the Bureau of Economic Analysis. Disposable personal income (DPI) increased a respectable 1.1% last month while personal consumption expenditures (PCE) advanced 0.7% in February, or the most in five months. The year-over-year trends for both series looks sluggish, however, which certainly doesn’t inspire confidence about the second quarter and beyond. But based on the numbers through February, it’s still a tough case to argue that DPI and PCE are caught in a downward spiral.
Daily Archives: March 29, 2013
ISM Manufacturing Index: March 2013 Preview
The ISM Manufacturing Index is projected to rise to 54.8 in Monday’s update for March, based on The Capital Spectator’s average econometric forecast. That reflects a modest increase over the 54.2 reading for February. By contrast, the consensus forecasts in two surveys of economists predict a modest decline for ISM’s March report.