US: Focus on personal spending and consumption data - Rabobank

US personal spending and consumption data for February is set to be published today and the consensus is for a 0.4% rise in income and a 0.2% rise in spending, according to analysts at Rabobank.

Key Quotes

“With the unemployment rate closing in on the 4% mark, the sizable tax cuts, and earnings rising at a gradually increasing pace, the outlook for consumption remains solid. On the other hand, the personal savings rate is already down to just 3.2%... Published alongside this report is the set of PCE deflators. The core rate is expected to have increased from 1.5% to 1.6%, while the headline rate is seen unchanged at 1.7%.”