Official name: Personal Income and Outlays

What exactly? A measure of changes in personal income and personal consumption expenditures (or spending).

Source: Commerce Department

Frequency: Monthly

Released when? First business day of the month at 8:30 Eastern. Data for two months prior.

Market importance: Some. Considered somewhat dated (employment report already indicated income and retail sales report already indicated consumption) but occasionally moves markets -- consumption typically accounts for roughly 68% of gross domestic product. Attained a somewhat higher profile in February 2000 when the Federal Open Market Committee began forecasting inflation in terms of the personal consumption expenditures deflator -- a component of the report -- instead of the timelier Consumer Price Index.

Other Notes: Report also includes a measure of the personal saving rate.