1/27, 2:31 PM (Source: TeleTrader)
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US personal spending down 0.2% in December

Personal consumption expenditures (PCE) in the United States fell by $41.6 billion, or 0.2%, in December compared to the previous month, the country's Bureau of Economic Analysis announced in a report published on Friday.

The PCE price index was up 0.1% on a monthly and 5% on an annual basis. Excluding food and energy, the index was 0.3% higher from November, while increasing 4.4% year-over-year. The Federal Reserve considers the latter figure as its main inflation indicator and takes it into account when determining monetary policy.

The report showed that, in December, personal income grew by $49.5 billion, or 0.2%. Disposable personal income (DPI) gained 0.3%, while Real PCE decreased by 0.3% and Real DPI increased by 0.2% compared to the previous month.

Baha Breaking News (BBN) / MS