US PCE grows 0.3pc in September

(Sharecast News) - The US personal consumption expenditures index increased 2.8% year-on-year in September, according to the Bureau of Economic Analysis, up from 2.7% in August for the highest reading since April 2024 Core PCE, on the other hand, which excludes volatile food and energy prices, rose by 2.8% year-on-year in September, easing from the August's 2.9% rate and better than market expectations of 2.9%.

On a monthly basis, PCE increased 0.3% in September, while core PCE ticked up 0.2% month-on-month.

Gasoline and other energy goods costs were responsible for much of the increase, up $17.2bn during the period, while housing and utilities, healthcare, financial services and insurance costs also chalked up marked increases.

Personal income increased by $94.5bn in September, with disposable personal income rising 0.3%, and personal outlays increased $70.7bn in September. Personal saving came to $1.09trn.



Reporting by Iain Gilbert at Sharecast.com