The latest report on personal income and spending is set for release at 8:30 a.m. ET.
Economists forecast the data from the Commerce Department to show that personal income rose 0.3% in March, while spending increased 0.2%, according to Bloomberg.
The report will also include data on personal consumption expenditures (PCE), a key way to gauge the level of consumer spending within the US economy. It’s also the Federal Reserve’s preferred way to measure inflation, and the year-on-year gain in core PCE will be closely watched by economists.
The forecast for core PCE, which excludes volatile food and gas costs, is a 0.1% gain month-on-month, and 1.6% year-on-year, a drop from 1.7% in the prior month.
Including these costs, the PCE deflator is estimated at 0.1% mont-on-month, and 0.8% year-on-year.