Real Personal Consumption Expenditures

Personal Consumption Expenditures (“PCE”) is an unbelievably great indicator. It tells us exactly what is happening with the full consumption component of Gross Domestic Product (“GDP”).

Given that PCE comprises almost 70% of Gross Domestic Product and given that GDP is super important and given that GDP is a quarterly indicator, it’s clear that a monthly metric like this is useful for getting a read on the economy.