Highlights of the March 2020 PCE report:
- Prior was +0.2%
Inflation:
- PCE core MoM -0.1% vs -0.1% expected
- Prior MoM +0.2%
- Deflator YoY 1.7% vs +1.6% expected
- Prior deflator YoY +1.8%
- Deflator MoM -0.3% vs +0.2% expected
- Prior MoM deflator +0.1%
Consumers spending and income for March:
- Personal income -2.0% vs -1.7% expected. Prior month +0.6%
- Personal spending -7.5% vs -5.1% expected. Prior month +0.2%
- Real personal spending -7.3% vs -6.2% expected. Prior month +0.2%
The drop in spending was worse than anticpated as the economy went into shutdown.
