One of The Fed’s favorite inflation indicators – Core PCE Deflator – fell to +3.5% YoY in October from +3.7% in Sept (its lowest since April 2021). Headline PCE tumbled to +3.00% YoY (below the 3.1% exp)…
Source: BloombergBoth income and spending growth slowed on a MoM basis (both +0.2% MoM)…
Source: BloombergIncome growth at 4.5% YoY is the slowest since Dec 2022 and Spending growth at +5.3% YoY is the slowest since Feb 2021…
Source: BloombergThe savings rate ticked up from an upwardly revised 3.7% of DPI to 3.8% in October…
Source: BloombergIs the consumer finally pulling back… or just reaching the limit on every source of credit?More By This Author:Bullion, Bonds, & Black Gold All Bid As Rate-Cut Hopes Ramp-UpDownbeat Beige Book Finds Economic Activity “Slowing”, Brings Fed One Step Closer To Rate CutsWTI Extends Losses After Across-The-Board Inventory Builds, Record Crude Production
