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US: Inflation and spending data in focus – TD Securities

Analysts at TD Securities are anticipating growth in the US personal spending to have slowed to a still firm 0.3% m/m in August, down from 0.6% in July.

Key Quotes

“This would keep real spending growth at a still strong 3.9% pace so far in Q3. Furthermore, we forecast income to rise a strong 0.5% m/m, recovering from the soft 0.1% increase in July.”

“In addition, we expect core inflation to inch up 0.2% m/m, lifting the annual measure from 1.6% to 1.8% y/y “” its highest level since December “” while headline inflation should have only ticked up 0.1% m/m (1.5% y/y) as food and energy prices remain a headwind.”

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