U.S. consumer spending rose 0.2% in September, after a 0.5% increase in August. Personal income slipped 0.1% in September after a 0.4% increase in the previous month. Economists were expecting to see a slight increase in personal income. Later this morning, the ISM Manufacturing Index and the Construction Spending report will be released.
The FOMC begins its two-day meeting tomorrow, but election results will likely be the focal point Tuesday. On Wednesday, we will see the ADP employment report, the ISM Non-Manufacturing Index, and factor orders. The FOMC will also make their latest announcement at 2:15 pm ET. Reports on weekly jobless claims and productivity and costs will be released Thursday. We end the week with pending home sales data and the government’s employment situation report.
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