Analysts at TD Securities are expecting the growth in the U.S. personal spending to have slowed to a still firm 0.3% m/m in August, down from 0.6% in July.

• “This would keep real spending growth at a still strong 3.9% pace so far in Q3. Furthermore, we forecast income to rise a strong 0.5% m/m, recovering from the soft 0.1% increase in July.
• In addition, we expect core inflation to inch up 0.2% m/m, lifting the annual measure from 1.6% to 1.8% y/y — its highest level since December — while headline inflation should have only ticked up 0.1% m/m (1.5% y/y) as food and energy prices remain a headwind.”