February personal income +0.2%; Jan PCE PCE.>

US DATA: February personal income +0.2%; Jan PCE +0.1%, core PCE prices 

+0.1% (+1.8% y/y)

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- Jan core PCE price index rose by 0.1%, above the flat reading expected 

by Bloomberg, but below the 0.2% gain expected by MNI.

- Core PCE prices fell to a 1.8% year/year gain from 2.0% in Dec, 

remaining below the 2% FOMC target.

- Feb personal income rose 0.2%. Both the BBG survey and MNI had 

expected a 0.3% increase. Wages and salaries rose 0.3% after a 0.3% gain 

in Jan.

- Jan nominal PCE rose 0.1%, a smaller gain than the 0.3% rise expected 

by BBG and the MNI survey. The small rise was due to a 1.2% decline in 

durable goods, offset by gains in nondurable goods and services.

- Jan real PCE rose 0.1% after a 0.6% drop in Dec. The January level was 

-0.6% SAAR from the Q4 average, a negative for Q1 GDP after a 2.5% 

gain in Q4 PCE based on Thursday's GDP data.

- Jan total PCE price index fell 0.1%, with the y/y rate rising 1.4%, 

down from 1.8% in Dec, lowest since Sept 2016.