Highlights of personal consumption expenditure report

PCE
  • PCE core 0.2% MoM vs estimate of 0.3%. Last month 0.3%
  • PCE core YoY 3.6% versus estimate of 3.7%. Last month came in at 3.6%
  • Headline PCE YoY 4.4% versus 4.2% last month (down from 4.3% previously reported). Month-to-month increase 0.3%

Consumer spending and income for June:

  • Personal income -1.0% versus -0.2% expected. Prior month +0.2%
  • Personal spending 0.6% vs +0.5% expected. Prior month +1.0% (up from 0.8% previously reported)
  • Disposable personal income -1.3% versus 0.1% last month
  • Real disposable personal income decreased -1.6% versus -0.2% last month
  • Personal income decreased $216.2 billion
  • personal spending increase by $93.4 billion

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According to the BEA:

  • The PCE price index for September increased 4.4 percent from one year ago, reflecting increases in both goods and services . Energy prices increased 24.9 percent while food prices increased 4.1 percent. Excluding food and energy, the PCE price index for September increased 3.6 percent from one year ago.
  • Personal outlays increased $92.1 billion in September. Personal saving was $1.34 trillion in September and the personal saving rate-personal saving as a percentage of disposable personal income-was 7.5 percent