U.S. Economic News
October 29, 2018
U.S. Economic Indicators
Real disposable personal income rose 0.1% in September while real personal consumption expenditures (PCE) increased 0.3%. The PCE price index edged up 0.1% (up 2.0% Y/Y) and the core price index rose 0.2% (up 2.0% Y/Y). BEA Report
U.S. News
The Wall Street Journal writes that despite recent, strong growth the U.S. economy is showing signs of slowing. Economists say that the main drivers of the current surge in growth — consumer spending and government spending — are likely to weaken in the coming quarters as the effects of tax cuts and spending bills fade. WSJ
The Financial Times reports that China’s top economic planning entity has proposed cutting a key tax on some automobiles in half. The proposal, which comes as China’s auto market is expected to decline this year for the first time since 1990, would boost profits for foreign automakers selling compact vehicles in China. FT