US Macroeconomic Data: PCE Index and Jobless Claims Released

The PCE Price Index for May reported a month-on-month increase of 0.4%, matching the prior figure but slightly below the forecast of 0.5%. Year-on-year, it stands at 4.1%, in line with expectations and up from 3.8% previously.

Core PCE year-on-year also met forecasts at 3.4%, up from 3.3%. Initial jobless claims remained steady at 226,000, unchanged from the prior week. Additionally, Q1 GDP growth was revised up to 2.1%, compared to the previous estimate of 0.5%.