10/1/2021, 2:30 PM (Source: TeleTrader)
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US personal spending up 0.8% in August

Personal consumption expenditures (PCE) in the United States increased 0.8% in August when compared to the previous month, better than market expectations, the US Bureau of Economic Analysis unveiled on Friday. The figure is now $130.5 billion higher than it was the month prior.

Meanwhile, the PCE price index gained 0.4% in August month-over-month, while the PCE price index excluding food and energy gained 0.3%. On an annual level, the PCE price index and the PCE price index excluding food and energy rose 4.3% and 3.6% respectively.

Personal income was up by $35.5 billion, constituting a 0.2% monthly gain. At the same time, disposable personal income saw a 0.1% or $18.9 billion rise.

Baha Breaking the News (BBN) / OL