Both personal income and personal spending for October came in at 0.2%, lower than expected. The core PCE index increased 0.2%, matching forecasts. Details from Bloomberg...
The Chicago Purchasing Managers'Index rose from 49.7 in October to 52.9 in November. Prices paid continued to move higher, rising from 74.7 to 76.2, while employment and new orders showed improvement.
Construction spending fell 0.8% in October, as residential construction dropped 2.0%.
