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U.S. Economic Calendar Event Update - Nov 30

Friday, November 30, 2012 8:47 AM

These are the U.S. economic calendar events for Friday, November 30, 2012. All times are EST.

Personal Income for Oct are scheduled to be released at 8:30 AM. Analysts are estimating a result of 0.2%. The prior period for Personal Income had a result of 0.4%. This event has a moderate effect on US markets.

Personal Spending for Oct are scheduled to be released at 8:30 AM. Analysts are estimating a result of 0.1%. The prior period for Personal Spending had a result of 0.8%. This event has a moderate effect on US markets.

PCE Prices - Core for Oct are scheduled to be released at 8:30 AM. Analysts are estimating a result of 0.2%. The prior period for PCE Prices - Core had a result of 0.1%. This event has a moderate effect on US markets.

Chicago PMI for Nov are scheduled to be released at 9:45 AM. Analysts are estimating a result of 50.7. The prior period for Chicago PMI had a result of 49.9. This event has a major effect on US markets.

At the release of important events, US equity markets (INDEXSP:.INX) can make major moves. Be sure to keep an eye on S&P (NYSEARCA:SPY), Nasdaq (NYSEARCA:QQQ) and Dow Jones (NYSEARCA:DIA) at the time of announcements.

Here is some more information about the events discussion in this article.

Personal Income: Personal income measures income from all sources. The largest component of total income is wages and salaries, a figure which can be estimated using payrolls and earnings data from the employment report. Beyond that, there are many other categories of income, including rental income, government subsidy payments, interest income, and dividend income. Personal income is a decent indicator of future consumer demand, but it is not perfect. Recessions usually occur when consumers stop spending, which then drives down income growth. Looking solely at income growth, one may therefore miss the turning point when consumers stop spending. The income report also includes a section covering personal consumption expenditures, also known as PCE. PCE is comprised of three categories: durables, nondurables, and services. The retail sales report will provide a good read on durable and nondurable consumption, while service purchases tend to grow at a fairly steady pace, making this a relatively predictable report, and ranking it well below retail sales in terms of market importance.

Personal Spending: The Consumer Expenditure Survey (CE) program consists of two surveys, the Quarterly Interview Survey and the Diary Survey, that provide information on the buying habits of American consumers, including data on their expenditures, income, and consumer unit (families and single consumers) characteristics. The survey data are collected for the Bureau of Labor Statistics by the U.S. Census Bureau. The CE is important because it is the only Federal survey to provide information on the complete range of consumers' expenditures and incomes, as well as the characteristics of those consumers. It is used by economic policymakers examining the impact of policy changes on economic groups, by businesses and academic researchers studying consumers' spending habits and trends, by other Federal agencies, and, perhaps most importantly, to regularly revise the Consumer Price Index market basket of goods and services and their relative importance.

PCE Prices - Core: Personal income measures income from all sources. The largest component of total income is wages and salaries, a figure which can be estimated using payrolls and earnings data from the employment report. Beyond that, there are many other categories of income, including rental income, government subsidy payments, interest income, and dividend income. Personal income is a decent indicator of future consumer demand, but it is not perfect. Recessions usually occur when consumers stop spending, which then drives down income growth. Looking solely at income growth, one may therefore miss the turning point when consumers stop spending. The income report also includes a section covering personal consumption expenditures, also known as PCE. PCE is comprised of three categories: durables, nondurables, and services. The retail sales report will provide a good read on durable and nondurable consumption, while service purchases tend to grow at a fairly steady pace, making this a relatively predictable report, and ranking it well below retail sales in terms of market importance.

Chicago PMI: The ISM-Chicago Business Survey, a regional view of the national economy, is a time-tested, market-moving report. The Chicago Business Barometer, summarizing current business activity, also is known as Chicago Purchasing Manager Index or Chicago PMI. The Barometer is considered to be a leading indicator of the USA economy.

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