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Here’s Why You Should Have Stayed In Bed: Inflation Hooray, Bill Dudley Edition
On Friday morning we got some data you probably don't care about.
Or maybe you do care, but I'd be willing to bet you didn't roll out of bed this morning and immediately think "oh my God, I just missed the personal income and consumption prints!" On the off chance you got up on the "US econ" side of the bed, here's what you need to know summarized in handy bullet points:
U.S. Feb. Personal Income Rose 0.4%; Matches Est.
Personal consumption rose 0.1%; est. up 0.2%
Personal consumption fore
> spending barely up (missing consensus)
Real spending has been down for two straight months (keep in mind this was the main driver of GDP in Q416). I bet nominal spending was up in Venezuela, but I would not invest there.
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2016 2017
Oct. Nov. Dec. Jan. Feb.
Percent change from preceding month
Personal consumption expenditures (PCE):
Chained (2009) dollars 0.3 0.2 0.4 -0.2 -0.1