PCE and personal spending rose in line with expectations in October
The core PCE and personal spending, closely watched by the Fed to monitor the course of inflation, rose in line with expectations in October.
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According to data from the US Department of Commerce, the core PCE, which the Fed closely monitors to track the course of inflation, increased by 3.5 percent annually.
The expectation of economists participating in the Bloomberg survey was also for a 3.5 percent increase.
During the same period, personal spending also rose in line with expectations. According to the data, personal spending increased by 0.2 percent in October.
Real personal spending also exceeded the 0.1 percent expectation with a 0.2 percent increase.
Personal income data showed a realization in line with expectations. Accordingly, personal income in the US rose to 0.2 percent in October. The increase in September had been recorded at 0.3 percent.