Adapted from Morning Consult Economic Intelligence Survey, Bureau of Economic Analysis, Bureau of Labor Statistics; Note: Morning Consult's spending data is deflated with the CPI, while PCE is deflated using its own price index; Seasonally adjusted; Chart: Axios Visuals
Consumer spending fell substantially in March from the previous month, according to a survey out Wednesday from Morning Consult.
Why it matters: The polling offers a hint about the official consumer spending data that will come out Friday from the Bureau of Economic Analysis. In the past, Morning Consult's survey — though more volatile — has directionally tracked those numbers.
