Personal Income increased 0.4%, rising for the second consecutive month by $54.5 billion in December to $12,772.4 billion seasonally adjusted at annual rates, matching expectations, after increasing by 0.4% in November, originally reported at 0.3%. Net of taxes Disposable Personal Income increased 0.4%, by $47.3 billion, to $11,559.2, after increasing by 0.3% in November. Personal Consumption Expenditures increased by $69.5 billion, or 0.7%, higher than the expected 0.5% increase, after increasing by 0.3% in November, revised downwards from an originally reported 0.4%. With the rate of spending exceeding the rate of income growth, the Personal Savings Rate decreased to 5.3% of disposable income, the lowest level since March, after increasing to 5.5% in November, originally reported at 5.3%.
Upcoming Releases
ISM Manufacturing Index (02/01 at 10.00 AM EST)
Construction Spending (02/01 at 10.00 AM EST)
Construction Spending (02/01 at 10.00 AM EST)
Crude Inventories (02/02 at 10.30 AM EST)
Initial Claims (02/03 at 8.30 AM EST)
