Here Comes PCE...
Expectations are for personal income to rise 0.4% with personal spending expected to rise 0.3%.
PCE is expected to be flat month-on-month in October and rise 1.4% year-over-year, while "core" PCE, which excludes the more volatile costs of food and energy, is expected to rise 0.2% month-on-month and 1.5% year-over-year.
PCE, rather than CPI, is the Federal Reserve's preferred measure of inflation.
Last month, personal spending fell 0.2% and personal income rose 0.2%, while core PCE rose 0.1% month-on-month.
Wednesday is a busy morning for US economic data ahead of the Thanksgiving holiday, with housing data, employment data, and manufacturing data also expected this morning.
- IDBI Bank gets ₹2.97 crore GST demand order
- Ahmedabad makes it to the top 8 global destinations for slow travel; See the list
- Ghost shopping malls surged 59% in 2023, 16 retail centres shut across top cities
- Top-selling cars in India in April 2024 – Tata Punch continues to dominate
- Apple Let Loose event today – What to expect, where to watch the live stream and everything you need to know