PCE Report Points to Weak Third Quarter, Economists Say

There were few surprises in the Personal Consumption and Expenditure (PCE) report released Friday, though economists say the data all points to weaker third-quarter results.

The personal consumption expenditures (PCE) core deflator, the Federal Reserve's preferred measure of inflation, came in line with expectations, advancing by 0.3% (0.273%) in July, and 2.4% (2.426%) on an annual basis, the U.S. Department of Commerce reported.

Written by Mortgage News Daily - Mortgage And Real Estate News on August 29th, 2008 with no comments.
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Upward Revision to U.S. Q2 GDP Due to Exports and Tax Rebates

The strong upward revision to second quarter U.S. GDP was the result of strong exports and the fiscal stimulus package, according to economists who are already looking forward to GDP results from the third quarter.

Written by Mortgage News Daily - Mortgage And Real Estate News on August 28th, 2008 with no comments.
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