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.

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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.

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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.

https://www.bea.gov/news/2018/personal-income-and-outlays-october-2018