August Core PCE, which excludes food and energy costs, rose by 0.1%, its smallest increase in three months; lower than the median forecast of 0.2%. The headline number increased by 0.1%, right in line with the forecast. Treasury yields fell following the release, with the curve shifting 4 bps lower in parallel as this should keep the Fed on track to continue cutting rates.
Hafizan Hamzah Senior Director, Investment Management Group
Date Event Surv(M) Actual Prior 09/27/24 Personal Income 0.40% 0.20% 0.30% 09/27/24 Personal Spending 0.30% 0.20% 0.50% 09/27/24 Real Personal Spending 0.10% 0.10% 0.40% 09/27/24 PCE Price Index MoM 0.10% 0.10% 0.20% 09/27/24 PCE Price Index YoY 2.30% 2.20% 2.50% 09/27/24 Core PCE Price Index MoM 0.20% 0.10% 0.20% 09/27/24 Core PCE Price Index YoY 2.70% 2.70% 2.60% 09/27/24 Advance Goods Trade Balance -$100.2b -$94.3b -$102.7b 09/27/24 Wholesale Inventories MoM 0.20% 0.20% 0.20% 09/27/24 Retail Inventories MoM 0.50% 0.50% 0.80% 09/27/24 Bloomberg Sept. United States Economic Survey 09/27/24 U. of Mich. Sentiment 69.4 — 69 09/27/24 U. of Mich. Current Conditions 63 — 62.9 09/27/24 U. of Mich. Expectations 73.4 — 73 09/27/24 U. of Mich. 1 Yr Inflation 2.70% — 2.70% 09/27/24 U. of Mich. 5-10 Yr Inflation 3.00% — 3.10% 09/27/24 Kansas City Fed Services Activity — — 5
Hafizan Hamzah Senior Director, Investment Management Group
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