After the excitement of yesterday’s GDP data, today investors are granted another peek into the hedonistic lifestyle of the US consumer. Personal income and consumption data are due, and both should be relatively buoyant. Job security and rising real incomes are powerful forces for supporting economic activity through consumer spending, UBS macro analyst Paul Donovan notes.
Upcoming US and European data may have significance
“The US personal consumer expenditure deflator is also due. This is less dependent on fantasy than the US consumer price measure, although there is still a fantasy element. Market determined prices (very definitely a subset of the overall index) showed a less than 2% y/y increase last month, which does not suggest a meaningly imbalance in economic supply and demand.
“European October consumer price inflation will be published (the flash estimate) with Italy completing the data from the major economies. Germany’s data was higher yesterday, which may be an idiosyncrasy. Markets are unlikely to be deterred from expecting regular rate cuts.”
면책 조항: 본 게시글에 표현된 견해는 전적으로 작성자의 견해이며 Followme의 공식 입장을 대변하지 않습니다. Followme는 제공된 정보의 정확성, 완전성 또는 신뢰성에 대해 책임을 지지 않으며, 서면으로 명시적으로 언급되지 않는 한 해당 내용을 기반으로 취해진 어떠한 조치에 대해서도 책임을 지지 않습니다.
