The jump in September outlays was driven by purchases of durable goods including the replacement of motor vehicles lost in recent flooding from hurricanes. That means the latest surge probably overstates the strength of consumer spending.
Meanwhile, real disposable income was flat after a 0.1 percent
decline in August. While consumers are getting support from steady
hiring, higher home values, stock-market gains and still- low inflation,
a sustained pickup in wages would help them further boost purchases.. . . more