We open the week with personal income and expenditures which will give us a reading into how much of the consumers take-home pay is being consumed (0.4%) and how much saved. Friday’s GDP report showed strong consumer activity but weak corporate investment. The data will also give us insight into the Fed’s favorite inflation measure, the core personal consumption expenditures price index.That index is expected to rise 0.2%.
We also get the Chicago Fed’s Midwest manufacturing index at 8: 30 (last at 91.7) .
At 13:45 we get Chicago PMI, which is pretty closely correlated with the ISM data, due tomorrow. 61.0 is the forecast.
