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TD Securities analysts are anticipating the US personal spending to have maintained its strong pace at 0.4% m/m in June, closing the second quarter at a decent clip.

Key Quotes

“In the details, we expect a 0.5% m/m advance in services spending to be the main driver behind the June gain, with a rise in spending in nondurables (+0.3%) also helping on the headline. Moreover, we forecast income to rise 0.3% m/m, a tad slower than in the prior month.”

“Separately, look for the release of the Conference Board’s consumer confidence indicator, where the market expects a modest rebound to a still-high 125.0 level in July.”