US income and spending data

  • Prior 0.4%. Revised to 0.5
  • Spending 0.4% vs 0.3% exp . Prior 0.3%. Revised to 0.4%
  • Real personal spending 0.4% vs 0.4% exp. Prior 0.2%. Revised to 0.3%
  • Core PCE 1.3% vs 1.3% exp y/y. Prior 1.2%
  • 0.1% vs 0.1% exp m/m. Prior 0.1%
  • PCE deflator 0.3% vs 0.3% exp y/y. Prior 0.3%
  • 0.0% vs 0.0% exp m/m. Prior 0.1%

On the breakdown, durables spending rose 0.9% vs 1.1% in July. Non-dur was up 0.2% vs 0.5% prior

On the income front wages were up 0.5% vs 0.6% in July and disposable income was up 0.4% vs 0.5% prior

Overall there's nothing to get excited about. Things are steady but there will be relief that the numbers aren't falling

US core PCE y/y