Here come personal income and spending …
Justin Sullivan/Getty
The Commerce Department will release its monthly report on personal income and spending at 8:30 a.m. ET.
Economists forecast that both increased by 0.4%, accelerating from March, according to Bloomberg.
The report will also include personal consumption expenditures, a gauge of household spending that the Federal Reserve prefers to use to track price changes, or inflation.
Excluding the volatile costs of food and energy, the core PCE deflator is estimated at 1.7%, still below the Fed’s 2% target.
Wells Fargo wrote in a preview:
The softness of real consumer spending was the main contributor to the slow pace of overall economic growth in Q1. The deceleration in spending is a bit puzzling as consumer confidence remains at a high level and job growth has been relatively strong to start the year. We expect a rebound in Q2 real consumer spending to a 2.9% annual pace from the upwardly revised Q1 pace of 0.6%.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
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