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Definition:
Personal income points to the change in the dollar value of the income collected from all sources by consumers and serves
to measure future consumer demand. The largest component of personal income is wages and salaries. Other categories include rental income, government subsidy payments, interest income and dividend income. A component of this figure, comprised of durable goods, non-durable goods and services, covers personal consumption expenditures or PCE. PCE is even more directly tied to the economy.
What mean ???? (arrow pointed) :
50% Correct +/-
And
80% Correct +/-
"" At the 50% Correct value there is a 50/50 chance the forecast value will be within this margin of
error.
At the 80% Correct value there is a 80% chance the forecast value will be within this margin of error.
The potential range of a forecast's value is found by taking the published forecast value and both adding and subtracting
the % Correct Values.
The % Correct (or error) values published are based on actual forecast performance.
For Example:
Forecast Value = 100
50% Correct Value = 10
80% Correct Value = 15
There is a 50% Chance the actual value will be between 110 and 90.
There is a 80% Chance the actual value will be between 115 and 85. “”
Now graphic pictures:
Why does it matter? Income is correlated with spending – itgives households the power to spend and/or save. The more disposable income consumers have, the more likely they are to increase spending and saving. Spendings accelerate the economy and keep it growing. Savings are often invested in the financial markets and can drive up the prices of financial assets. Even those funds saved in banks can be used for credits and thus contribute to the overall economic activity.
If the actual figure is bigger than its forecast, you should expect a rise in the USD .
Released by: US Department of Commerce; Bureau of Economic Analysis (BEA).
Frequency: The Commerce Department releases the personal income and consumption figures the fourth week of each month, the day after GDP figures are published, using data from the previous month. The released data is for the previous month.
I will continue on next blog.
Please ,visit and comment my article :
The Art of Ichimoku
Personal income
Definition:
Personal income points to the change in the dollar value of the income collected from all sources by consumers and serves
to measure future consumer demand. The largest component of personal income is wages and salaries. Other categories include rental income, government subsidy payments, interest income and dividend income. A component of this figure, comprised of durable goods, non-durable goods and services, covers personal consumption expenditures or PCE. PCE is even more directly tied to the economy.
What mean ???? (arrow pointed) :
50% Correct +/-
And
80% Correct +/-
"" At the 50% Correct value there is a 50/50 chance the forecast value will be within this margin of
error.
At the 80% Correct value there is a 80% chance the forecast value will be within this margin of error.
The potential range of a forecast's value is found by taking the published forecast value and both adding and subtracting
the % Correct Values.
The % Correct (or error) values published are based on actual forecast performance.
For Example:
Forecast Value = 100
50% Correct Value = 10
80% Correct Value = 15
There is a 50% Chance the actual value will be between 110 and 90.
There is a 80% Chance the actual value will be between 115 and 85. “”
Now graphic pictures:
Why does it matter? Income is correlated with spending – itgives households the power to spend and/or save. The more disposable income consumers have, the more likely they are to increase spending and saving. Spendings accelerate the economy and keep it growing. Savings are often invested in the financial markets and can drive up the prices of financial assets. Even those funds saved in banks can be used for credits and thus contribute to the overall economic activity.
If the actual figure is bigger than its forecast, you should expect a rise in the USD .
Released by: US Department of Commerce; Bureau of Economic Analysis (BEA).
Frequency: The Commerce Department releases the personal income and consumption figures the fourth week of each month, the day after GDP figures are published, using data from the previous month. The released data is for the previous month.
I will continue on next blog.
Please ,visit and comment my article :
The Art of Ichimoku