Personal Spending In The US Was In Line With Expectations

Personal spending in the US was in line with expectations. Personal spending in the US rose 0.5 percent in April.

Personal incomes fell 13.1 percent in April. The expectation of economists participating in the Bloomberg survey was that personal incomes would decrease by 14.2 percent in April. The PCE price index, which the FED (US Federal Reserve) takes into account in terms of inflation outlook, increased by 0.6 percent in April compared to the previous month. Thus, an increase has been recorded in this index for two consecutive months. On an annual basis, the increase in the PCE price index was 3.6 percent. Economists participating in the Bloomberg survey had expected an annual increase of 3.5 percent in the PCE price index in April. PCE core deflator increased 0.7 percent on a monthly basis in April. Compared to the same period of the previous year, the increase in this data was 3.1 percent. Economists expectation was 2.9 percent. After the data was released, it was observed that the premiums in the US dollar were somewhat limited.