Highlights of the March personal income and spending report:
- Prior core inflation 1.1%
- PCE deflator 1.1% y/y, as expected
- Personal income +0.5% vs +0.4% expected
- Prior personal income +0.3% (revised to +0.4%)
- Personal spending +0.9% vs +0.6% expected
- Prior personal spending +0.3% (revised to +0.5%)
Upbeat spending numbers are the main headline from this report. They rose the most since 2009, proving that some spending was certainly held back by cold weather although yesterday’s GDP numbers showed that Obamacare spending may have been part of the equation.
Personal spending
