- PCE: Personal Consumption Expenditures
- A measure of spending on goods and services in the US used to provide a measure of economic strength
- YoY
- 2.4% vs 2.5% Expected (prior 2.3%)
- Core: 2.8% vs 2.9% Expected (prior 2.8%)
- MoM
- 0.1% vs 0.2% Expected (prior 0.2%)
- Core: 0.1% vs 0.2% Expected (prior 0.3%)
The inflation measure that the FED looks to regularly came in lower than expected. This provides a glimmer of hope to global markets which have been reactionary to hawkish Fed comments (expected slowdown of rate cuts) and US economic uncertainty (along with a looming US federal government shutdown). We can hope for a bounce!