Confounded Interest

US Real Personal Spending Crashes In Dec, Largest Decline Since 2009 (Core Inflation Declines To 1.7% YoY, Consumer Sentiment Declines)

Bah humbug!

US Personal Consumption Expenditures (PCE) crashed in December to its lowest MoM reading since 2009.

On the inflation front, core PCE price growth YoY remained steady at 1.9% with the PCE Deflator declining to 1.7% YoY.

Consumer sentiment declined in February along with ISM New Orders.

But at least University of Michigan’s Buying Conditions for Houses rose in February, or it is just a blip in a downward trend.

This looks like the end of The Fed’s Quantitative Tightening.