U.S personal incomes rose by $116.6 billion in December or 0.6% from November, according to the Bureau of Economic Analysis press release. The rise in personal income reflected increases in government social benefits, compensation, and personal dividend income.
- The personal consumption expenditures (PCE) declined by $27.9 billion or 0.2% from November.
- Real disposable personal income rose by 0.2%, while real personal consumption expenditure fell by 0.6%
- The PCE price index gained 0.4% or 0.3%, excluding food and energy.
- Personal outlays declined by $39.2 billion, with personal savings hitting $2.38 trillion, while the personal savings rate in December was 13.7%.
U.S stocks and the dollar are currently declining. SPY is down 0.60%, QQQ is down 0.80%, EURUSD is up 0.24%