Helmo Preuss
By Helmo Preuss.
On 28 April 2017 the US Bureau of Economic Analysis (BEA) reported the slowest quarterly growth in personal consumption expenditure (PCE) in the first quarter 2017 since the recession year of 2009. This slowdown had been well signalled by the collapse in light vehicle sales. If one excludes the non-discretionary healthcare component, then PCE shrank by 0.25% quarter-on-quarter (q/q) at a seasonally adjusted annualised rate (saar). (more…)
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