Your Capital Markets Snapshot: A Bright Picture of the U.S. Economy

Data in the last week of the quarter painted a bright picture of the U.S. economy. The Federal Reserve’s preferred inflation metric, the Personal Consumption Expenditure (PCE) Index, came in as expected for February with an increase of 2.5% for the year. The core PCE, which excludes food and energy, also came in as expected with gain of 2.8% for the year. Other positive data for the week included declining jobless claims and an upwardly revised GDP figure for the fourth quarter at 3.4%. In addition, the University of Michigan Consumer Sentiment Index came in above expectations to its highest level in almost three years.