US nominal consumer spending expected to reaccelerate

US nominal consumer spending expected to reaccelerate Current-dollar PCE probably posted its largest gain in five months in October, climbing by 0.5% following a modest 0.1% uptick in September. Solid unit motor vehicle sales, combined with the projected pickup in retail control purchases and higher gasoline pump prices, suggest that goods outlays rose by 0.6% during the reference period, more than offsetting the prior period's 0.5% decline. 

Notwithstanding a weather-induced reduction in consumers' utilities bills, nominal services spending likely continued apace, rising by 0.4% for a second straight month