BEA: Consumer Spending Edges Up
Monday October 29th, 2012 - 10:20AM
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In September, personal income increased $48.1 billion, or 0.4%, and disposable personal income increased $43 billion, or 0.4%, according to the United States Bureau of Economic Analysis. Personal consumption expenditures increased $87.9 billion, or 0.8%.
In August, personal income increased $17.8 billion, or 0.1%, DPI increased $15.1 billion, or 0.1%, and PCE increased $59.9 billion, or 0.5%, based on revised estimates, the bureau announced.
Real DPI— DPI adjusted to remove price changes— decreased less than 0.1% in September compared with a decrease of 0.3% in August, it stated.
Real PCE— PCE adjusted to remove price changes— increased 0.4% in September compared with an increase of 0.1% in August. Purchases of durable goods increased 1.3% compared with an increase of 1.5% in the month earlier. Purchases of nondurable goods increased 0.5% versus an increase of 0.4% month over month. And purchases of services increased 0.2% compared to a 0.2% August decrease, BEA noted.
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Dissecting what Ron Johnson got wrong during his brief, calamitous term at the helm of J.C. Penney is sure to be the focal point of retail strategy and tactics lessons for years to come. But Penney’s future could still hinge to some extent on what he got right.