- Prior 1.9%
- Core PCE 1.8% vs 1.7% exp. Revised to 1.8%
- Personal income 0.4% vs 0.4% exp m/m. Prior 0.4%. Revised to 0.5%
- Spending 0.1% vs 0.2% exp m/m. Prior 0.2%
- Real spending -0.1% vs 0.1% exp m/m. Prior -0.3%. Revised to -0.2%
Spending is the smallest gain for 6 months. The inflation picture in the US is looking more robust that it is in Europe but the effects will be the same, and higher prices leads to a squeeze on spending. Wages gains could be better but their running ahead of inflation so there may be some wiggle room before we see any real squeeze.