October 208 US PCE, personal income and spending data 29 November 2018
- PCE 2.0% vs 2.1% exp y/y. Prior 2.0%
- 0.2% vs 0.1% prior m/m
- Core PCE 1.8% vs 1.9% exp y/y. Prior 2.0%
- 0.1% vs 0.2% exp m/m. Prior 0.2%
- Personal income 0.5% vs 0.4% exp m/m. Prior 0.2%
- Consumption adj 0.6% vs 0.4% exp m/m. Prior 0.4%
- Real consumption 0.4% v 0.3% prior m/m
Softer Core PCE might get the Fed sweating a bit but that’s countered by better income and spending levels. The Fed will be happy with that side as it’s the consumer driving the economy right now.
USD seems to be concentrating on the core PCE number as it dips. USDJPY to a session low of 113.19 and under the day’s support.