Details from the June 2016 US personal income, spending and PCE data report 2 August 2016

  • Prior 0.2%

  • Spending 0.4% vs 0.3% exp m/m. Prior 0.4%
  • Real spending 0.3% vs 0.2% exp m/m. Prior 0.3%. Revised to 0.2%

PCE data

  • Core PCE 1.6% vs 1.6% exp y/y. Prior 1.6%
  • 0.1% vs 0.1% exp m/m. Prior 0.2%

  • PCE deflator 0.9% vs 0.9% exp m/m. Prior 0.95

  • 0.1% vs 0.1% exp m/m. Prior 0.2%

On the income front, wages and disposable income rose 0.3% and 0.2% apiece. For spending, durable spending was down again but non-durables jumped 0.7% from 0.45 in May.

Overall there's more positives than negatives but once again there's no real oomph to these numbers. 0.2's and 0.3's just aren't going to cut it if you want to see more hikes.

PCE is in the same boat too. The core was looking like it might be on its way higher at the start of the year but that move had gone a bit flat now.

Core PCE y/y

This data was already included in last week's prelim GDP.