Comment on Consumer spending up weak 0.1 percent in October

Consumer spending up weak 0.1 percent in October

The Commerce Department said Wednesday non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, increased 1.3 percent last month after an upwardly revised 0.4 percent rise in September. Wages and salaries shot up 0.6%, the largest increase since May. The increase matched expectations. That rate of change illustrates acceleration from the 0.2 percent increase in September, but falls in line with the rate of change throughout the summer of 2015, indicating little hint of a strong acceleration in wage growth.

 

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