Here comes personal income and spending ...

The latest data on personal income and spending, as well as personal consumption expenditures, are set for release at the bottom of the hour.

Economists estimate that personal income and spending each rose 0.2% in month-on-month.

They forecast that “core” personal consumption expenditures increased 0.2% month-on-month, and 1.4% year-on-year.

Here’s BNP Paribas’ preview to clients: “We expect subdued gains in personal income and spending and an acceleration in core PCE inflation for September. Disappointing control group retail sales and weak sales at gasoline stations likely offset an increase in unit auto sales and solid services spending. Declines in both aggregate hours worked and in average hourly earnings suggest that income gains were soft in the month.”

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