August ended on a positive note. Friday’s data showed that the US PCE and the core PCE index stagnated near the levels printed a month earlier instead of a small uptick. Personal spending rose more than expected – and more than income, but the US saving rate fell to 2.9% – the lowest since 2022. […]
This week’s national accounts confirmed our view that the domestic economic is soft, especially the consumer. Pressures on households should start to ease in the period ahead. The big-picture themes from the national accounts for the December quarter were largely as expected. The Australian economy is soft, expanding just 0.2% in the quarter and 1½% […]
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