June 2018 personal consumption expenditure report highlights

  • Prior was +2.0% (revised to +1.9%)

  • m/m core +0.1% vs +0.1% exp

  • Deflator 2.2% vs 2.3% exp

  • m/m deflator +0.1% vs +0.1% exp

Consumers

  • Personal income +0.4% m/m vs +0.4% exp

  • Personal spending +0.4% vs +0.4% m/m exp

  • Prior personal spending +0.2% (revised to +0.5%)

  • Real personal spending +0.3% vs +0.4% expected

  • Prior real personal spending 0.0% (revised to +0.3%)

There isn't much to be happy about here for the dollar bulls, although the revision to the prior personal spending is a silver lining.