United States: Labour market and PCE inflation watch – NBC Economics and Strategy
NBC Economics and Strategy report that U.S. nominal personal income rose 0.4% in July, double expectations, while spending increased 0.2% and real disposable income climbed 0.4% with flat real spending.
The U.S. labor market and PCE inflation received attention in a recent NBC Economics and Strategy report. Personal income rose by 0.4% in July, exceeding expectations, while spending increased by 0.2% and real disposable income climbed by 0.4% with flat real spending. The July headline PCE deflator remained unchanged at 3.7% on a 12-month basis, while the core PCE measure stayed steady at 3.3%.
Monthly data showed both headline and core PCE figures rising by 0.2%. Analysts expect August nonfarm payrolls to rise by approximately 80,000, maintaining the unemployment rate at 4.1% with a slight increase in labor force participation to 61.5%. This combination of factors could lead to a revised nonfarm payroll figure.
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