US Economic Data for November 2024 Shows Steady Growth, PCE Up 0.1% MoM

The post US Economic Data for November 2024 Shows Steady Growth, PCE Up 0.1% MoM appeared first on Coinpedia Fintech News

US economic data for November 2024 showed steady growth, with the PCE inflation index rising 0.1% month-over-month and 2.4% year-over-year. The core PCE index, excluding food and energy, increased by 0.1% monthly and 2.8% annually. Personal income increased 0.5 percent or $71.1 billion in the month compared to the previous month. Meanwhile, DPI increased 0.3 percent or $61.1 billion. Notably, the slight rise in the PCE price index indicates low inflation, which may lead the Federal Reserve to maintain current policies. This stability could reduce cryptocurrency volatility, as fewer economic surprises could minimize market shocks.