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Personal spending beats consensus, US inflation remains steady
Growth in consumer spending overshadows slower wage increase
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
Quick Take
The United States PCE Price Index reveals a generally stable financial landscape, with most figures aligning with expectations.
A fine-grained analysis, however, unveils some notable nuances. The Core PCE Price Index MoM stood at 0.3%, completely mirroring the consensus, which projects a climate of steady inflation.
Personal Income MoM, interestingly, slightly underperformed, coming in at 0.3% against the anticipated 0.4%. This minuscule difference paints a picture of stability in wage growth, albeit somewhat lower than predicted.
On the contrary, Personal Spending MoM emerged warmer than anticipated, hitting the 0.7% mark, outstripping the consensus of 0.5%. This could indicate increased consumer trust and spending power, thereby hinting at potential economic growth.
Despite these figures, the U.S. dollar, yields, and Bitcoin have held their ground, showing little reaction to the news.
