Insight ReportEconomic Analysis: CONSUMER SPENDING BUOYED BY RISING WAGES AND LOWER UNEMPLOYMENT Coresight Research November 18, 2016 Executive Summary The US unemployment rate in October edged down to 4.9%, which was in line with the consensus estimate and lower than the September reading of 5.0%. In the US, real PCE in September increased by 0.3% month over month, reflecting an increase in spending on durable goods. The core PCE deflator, which excludes food and energy prices, increased by 1.7% year over year for the month; the rate was still slightly below the Federal Reserve’s target of 2%. The gas price has been range-bound between US$2.15 and US$2.26 from October to the middle of November, and closed at US$2.187 on November 10, 2016. In the US, advance estimates of October retail sales were US$465.9 billion, up by 0.8% month over month and 4.3% year over year. Already a subscriber? Log in You are currently viewing a preview of this report. Please select an access option to view the full report. Hide Options - Show Options + Get unlimited access to all our research with one of our subscription plans. View Subscription Plans or Contact us to purchase this report. Contact us ✕ This document was generated for Other research you may be interested in: Economic Sentiment Turns Negative This Week: Weekly US Consumer Sentiment, Week 37, 2025—InfographicFinancial Sentiment Hits a Year-to-Date High: Weekly US Consumer Sentiment, Week 33, 2025—InfographicUS Consumers’ Perceptions of Tariffs: Data GraphicAnalyst Corner: US Grocery Retail—Decoding the $1.6 Trillion Market, with Sujeet Naik
