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S&P Credit Research656 word report
published Oct 30, 2009
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S&P Credit Research
| Abstract: | Personal income remained nearly flat in September, while consumer spending dipped 0.5% with the end of the "cash-for-clunkers" program—in line with market expectations. The drop in spending was concentrated in durable goods, reflecting the decline in car sales. Nondurable spending rose 0.5%, and services were up 0.1%. On the income side, compensation dropped 0.1% as aggregate hours worked fell, while transfer payments rose 0.8%. The saving rate rose to 3.3% from 2.8% in August. Overall, the data show consumer spending on non-auto goods remaining firm, while the drop-off in car sales reflects the end of the clunkers boost.
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| Brief Excerpt: | You are not entitled to view this Article. For technical support, please contact your help desk. Published by Standard & Poor's Financial Services LLC, a subsidiary of The McGraw-Hill Companies, Inc. Executive and Editorial offices:...
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| Report Type: | Commentary
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| Sector: | Global Issuers, Public Finance, Structured Finance
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| Free Sample: |
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| Format: | | HTML |  |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
