11/29: MetroIntelligence Economic Update by P. DUFFY

October pending home sales dip 1.7 percent from September but up 4.4 percent year-on-year

The Pending Home Sales Index (PHSI) fell 1.7% to 106.7 in October. Year-over-year contract signings jumped 4.4%.



October personal income flat as personal spending rose 0.3 percent

In October, personal income was mostly flat, disposable personal income fell -0.1 percent and personal consumption expenditures (PCE) rose 0.3 percent, leading to a decline in the personal savings rate from 8.1 to 7.8 percent.



Inflation tracker PCE price index up 0.2 percent in October and 1.3 percent year-on-year

The PCE price index increased 0.2 percent in October and was up 1.3 percent year-on-year. Excluding food and energy, the PCE price index increased 0.1 percent in October and was up 1.6 percent year-on-year.