Crypto HeadlinesUS PCE Inflation Falls, GDP Grows
In August, the core Personal Consumption Expenditures (PCE) index in the US stood at 3.0% year-on-year, below analysts' forecasts. The actual data matched the previous reading and beat market expectations.
The monthly growth of the core index was 0.2%, exceeding the forecast of 0.3% and marking a significant improvement from the previous 0.1%. This indicates a cooling of inflationary processes in the country's economy.
The overall PCE index rose by 3.4% year-on-year, also below the expected 3.7% and in line with the previous figure. Monthly dynamics were 0.3%, surpassing the forecast of 0.4% and doubling the previous 0.1%.
Economic growth in the second quarter exceeded expectations: GDP increased by 2.2% against a forecast of 1.5% and close to the previous quarter's 2.1%. The GDP deflator showed quarterly growth of 6.1%, down from the forecast of 6.4% but significantly higher than the previous period's 3.6%.
