January 2017 US personal income spending and PCE data report 1 March 2017

  • Prior 1.6%

  • 0.4% vs 0.5% exp m/m. Prior 0.2%

  • Core PCE 1.7% vs 1.7% exp y/y. Prior 1.7%
  • 0.3% vs 0.2% exp m/m. Prior 0.1%
  • Personal income 0.4% vs 0.3% exp m/m. Prior 0.3%
  • Spending 0.2% vs 0.3% exp m/m. Prior 0.5%

  • Real spending -0.3% vs 0.3% prior

Ignore the PCE miss of expectations as it's still 3 ticks up on last month. The core will keep inflation watchers feet on the ground as it stays at 1.7%.

Not the greatest spending and income numbers either.

It looks like the dollar is running with the PCE number more than anything else.

US PCE & core y/y