Personal Income Rises 0.3% in August; Spending Increases 0.5% While Prices Fall

Other than the employment report, the report on Personal Income and Outlays for August from the Bureau of Economic Analysis was probably the most important economic release of this past week, as this is the report that gives us the monthly data on our personal consumption expenditures (PCE), which is nearly 69% of GDP, as well as the important monthly personal income data, total personal savings and the national savings rate, in addition to the price index for PCE,