11/30: MetroIntelligence Economic Update by P. DUFFY

October Pending Home Sales Index down 2.6 percent from September and 6.7 percent year-on-year

The Pending Home Sales Index  decreased 2.6 percent to 102.1 in October, down from 104.8 in September. Year-over-year contract signings dropped 6.7 percent, making this the tenth straight month of annual decreases.



Personal income rose 0.5 percent in October vs. 0.6 percent rise in personal spending

Both personal and disposable income rose 0.5 percent in October, versus a rise of 0.6 percent for personal spending, resulting in the personal savings rate slipping to 6.2 percent.



October PCE Price Index up 0.2 percent from September and 2.0 percent year-on-year

The Fed-preferred October PCE price index increased 0.2 percent from September, and 2.0 percent year-on-year. Excluding food and energy, the PCE price index increased 0.1 percent from September and 1.8 percent year-on-year.