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30th May 2024 19:54USWeekly Monitor

  • The spike in the core PCE deflator is over, but Fed officials will want to see more data before they relax.
  • Consumers’ spending is on course for another modest 2%-ish increase in the second quarter.
  • Manufacturing is in better shape than implied by the grim Chicago PMI; auto sales headed for Q2 bounce.

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Keywords for: 3 June 2024 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence