The day ahead: Thursday

September 30, 2009

Consumer spending is in the spotlight with U.S. auto sales and personal income and outlays data expected.

*  Auto sales probably fell in September back to the nearly three-decade lows of early 2009 without government incentives to spur buying.

*  Data on personal spending is due. Economists estimated that U.S. personal income rose just 0.1 percent in August after being flat in July and that personal spending jumped 1.1 percent after a 0.2 percent July increase.

*  Additional data includes: pending home sales, ISM manufacturing index and initial jobless claims.

*  Federal Reserve Chairman Ben Bernanke testifies on financial regulatory reform before the House Financial Services Committee.

*  Reuters Restructuring Summit in New York and London features interviews with Barclay’s Capital Managing Director and Head of the Global Restructuring and Finance Group Mark Shapiro and AlixPartners Vice Chairman Al Koch.

One comment

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I am just puzzled at the fact that somebody’s income is actually gone up. All I see around me is incomes going down. An how can income go up in the summer, this is not even the time of pay raises and bonuses. Is the Government cooking statistics yet again.

Posted by Anthony | Report as abusive