US May personal spending +8.2% vs +9.2% expected

Author: Adam Button | Category: News

May personal consumption expenditure highlights

May personal consumption expenditure highlights
  • Prior was -13.6% (revised to -12.6%)
  • Personal income -4.2% vs -6.0% expected
  • Prior personal income +10.5% (revised to +10.8%)
With the revisions, the picture here remains a stronger-than-expected consumer and government stimulus cheques shore up incomes.

Details:
  • Real personal spending +8.1% vs +8.7% expected
  • Prior real personal spending -13.2% (revised to -12.2%)
  • PCE deflator +0.1% vs 0.0% exp m/m
  • Deflator y/y +0.5% vs +0.5% exp
  • Core deflator y/y +1.0% vs +1.0% exp
The savings rate data has been extreme since the pandemic. Pre-pandemic it was around 8% then jumped to 12.6% in March, to 32.2% in April and 23.2% in May.

For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose