Data that is critical to predicting the direction of monetary policies in the USA will be announced.
Personal income and expenditures and core PCE deflator data for March in the USA will be announced at 15:30 Türkiye time. According to median estimates in Bloomberg surveys, the growth in personal income is expected to accelerate from 0.3 percent to 0.5 percent, while the increase in personal expenditures is expected to slow down from 0.8 percent to 0.6 percent.
It is estimated that the core PCE will increase by 0.3 percent monthly and 2.7 percent annually for March.
“The details will show solid income growth that supports personal spending,” Bloomberg Economist Stuart Paul said of the data.
Overall, the data will not give policymakers confidence that inflation is on a sustained downward trend towards the 2 percent inflation target. “This prepares the ground for Fed Chairman Jerome Powell to speak in a more hawkish tone at the April 30-May 1 FOMC meeting,” he said.
It was announced on Thursday that the US economy recorded its slowest growth in the first quarter since the second quarter of 2022. However, as expected, the core PCE for the first quarter increased by 3.7 percent, above the 3.4 percent forecast, overshadowing the growth data.
