September 2018 US personal income, spending and PCE price index data 29 October 2018

  • Prior 2.2%
  • Core PCE 2.0% vs 2.0% exp y/y. Prior 2.0%
  • Personal income 0.2% vs 0.3% exp m/m. Prior 0.3%. Revised to 0.4%
  • Spending 0.4% vs 0.4% exp m/m. Prior 0.3%. Revised to 0.5%
  • Real spending 0.3% vs 0.2% prior m/m. Revised to 0.4%

PCE & Core on the money. Income down but revised higher last month, spending ok, and revised up also.

Overall, the US consumer keeps spending, and that’s going to continue to drive the economy. A good round of holiday spending in the next couple of months will re-inforce the Fed’s view of the economy.

Ryan Littlestone

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