Second reading was +1.3%Final Q4 reading was +3.2% annualizedQ3 was +5.2% annualized
Details:
Consumer spending +1.5% vs +2.0% second reading GDP final sales +1.8% vs +1.7% second readingGDP deflator +3.1% vs +3.1% second readingCore PCE +3.7% vs +3.6% second reading Corporate profits -2.7% vs -1.7% in second readingPCE services inflation excluding energy and housing +5.1% vs 4.9% second reading
What’s the signal here? Higher inflation. Or lower consumer spending signalling downward pressure on prices? I’d ignore both as this is stale data with the second quarter now just a few days away.
This article was written by Adam Button at www.forexlive.com.
