1/28/2022, 2:31 PM (Source: TeleTrader)
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US personal spending down 0.6% in December

Personal spending in the United States fell by 0.6% in December on a monthly basis or $95.2 billion, according to a report by the Bureau of Economic Analysis on Friday. Personal income was up 0.3% or $70.7 billion, while disposable personal income increased 0.2% or $39.9 billion.

The personal consumption expenditures (PCE) price index was up 5.8% on a yearly basis, with both the prices of goods and services going up. Energy prices jumped 29.9% while food prices increased 5.7%. Excluding food and energy, the PCE price index for December added 4.9% from one year ago, rising at the fastest pace since September 1983 and above estimates putting it at 4.8%.

Baha Breaking News (BBN) / DJ