Prior was +0.2%Prior core m/m +0.2% (revised to +0.3%)Core y/y +2.6% vs +2.6% expected Headline PCE 0.0% m/m vs 0.0% expectedHeadline PCE +2.6% y/y vs +2.6% expectedPersonal income +0.5% vs +0.4% expectedPersonal spending +0.2% vs +0.3% expectedPrior personal spending +0.2% (revised to +0.1%)PCE services excluding energy +0.1% vs +0.3% prior
There are no big surprises in the headlines. They are in line with estimates while the variation in the income and spending numbers are small and the revisions aren’t material.
I think the Fed will look favorably at this report as it helps to confirm softer CPI and the core services numbers are also benign.
This article was written by Adam Button at www.forexlive.com.
