US core PCE yy
- Prior month 2.8% (revised to 2.9%)
- PCE core m/m +0.3% vs +0.3% expected
- Prior m/m core +0.4% (revised to +0.5%)
- Headline PCE +2.5% y/y vs +2.5% expected (prior 2.4%).
- Headline m/m +0.3% vs +0.4% expected
- 3 month annualized vs 2.8% prior
- 6 month annualized vs 2.6% prior
Consumer spending and consumer income for February:
- Personal income +0.3% versus +0.4% expected. Prior month 0.3%.
- Personal spending +0.8% versus +0.5% expected. Prior month +0.2%
- Real personal spending +0.4% vs -0.1% last month (revised to -0.2%)
There are no big surprises in the headlines but I will dig down into the data to see if there’s anything hidden. The revisions to the January data are a touch higher but it didn’t bump up the Feb y/y numbers.
Overall, it’s a tad hot and the dollar is a tad stronger.
US core PCE mm