Insight Report 4 minutes PremiumEconomic 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. This report is for paying subscribers only. Already a paying subscriber? Please log in to see the entire report.If you wish to learn more about our subscription plans and become a paying subscriber, click here. This document was generated for Other research you may be interested in: NextGen Commerce—Event Insights: Revolutionizing Retail Through AINavigating Digital Transformation in Retail: Infographic—Europe in FocusWeekly US and UK Store Openings and Closures Tracker 2024, Week 30: Conn’s and Carpetright Close Stores Following Bankruptcy FilingsUS Store Tracker Extra, February 2024: Tractor Supply Adds 4 Million Square Feet to Openings