06/01/18 08:10 AM EDT

CHART OF THE DAY: A Close Eye On The U.S. Consumption Cycle

Keith McCullough

Editor's Note: Below is a brief excerpt from today's Early Look written by CEO Keith McCullough. Click here to learn more about the Early Look.

On the Consumption Cycle, yesterday’s news = continued #acceleration on a trending basis, but not an absolute #acceleration to a new cycle high. By that I mean:

Real PCE (Personal Consumption Expenditure) #accelerated to +2.7% y/y in APR vs. +2.4% in MAR
Vs. Consumption Cycle peak growth rates of +2.9% y/y in NOV/DEC 2017 (post Tax Reform giddiness)

CHART OF THE DAY: A Close Eye On The U.S. Consumption Cycle

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