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PCE Report Points to Weak Third Quarter, Economists Say

There were few surprises in the Personal Consumption and Expenditure (PCE) report released Friday, though economists say the data all points to weaker third-quarter results.

The personal consumption expenditures (PCE) core deflator, the Federal Reserve's preferred measure of inflation, came in line with expectations, advancing by 0.3% (0.273%) in July, and 2.4% (2.426%) on an annual basis, the U.S. Department of Commerce reported.