April 2018 US PCE and personal income & spending report 31 May 2018
- Prior 2.0%
- Core PCE 1.8% vs 1.8% exp y/.y. Prior 1.9%. Revised to 1.8%
- Personal income 0.4% vs 0.3% exp m/m. Prior 0.3%
- Spending 0.6% vs 0.4% exp m/m. prior 0.4%. Revised to 0.5%
- Real spending 0.4% vs 0.2% exp m/m. Prior 0.4%. Revised to 0.5%
A good tick up in spending and incomes, let’s see if that translates into retail data. Core PCE stays unchanged as last month is revised lower. PCE on the button. Nothing to worry the Fed here. The only concern is if hike watchers are looking for stronger inflation to cement hike expectations. The Fed wonlt be fussed as 2% is their target and they’re seeing sustained inflation there.
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