The first of the weather impacted economic data was released last week and more will be released this week. The home sales data was depressed as the largest sector of the housing markets are located in the rapidly growing south. The personal income and spending data was below the trends of the last three months. The data released to date is for August, which was impacted in the last week of the month. A larger impact will be reflected this week. The September labor market data will reflect the effects of the hurricanes, with job growth low and wages lower as many hourly workers did not work during the storms. This data will largely be ignored as investors believe the weak data released over the next three months will rebound later as reconstruction occurs…

ProBank Austin Advisor – October 2, 2017