- Analytics
- News and Tools
- Market News
- U.S. personal spending dropped 0.3% in December, the largest decline since September 2009
U.S. personal spending dropped 0.3% in December, the largest decline since September 2009
The U.S. Commerce Department released personal spending and income figures on Monday. Personal spending decreased 0.3% in December, missing expectations for a 0.1% decline, after a 0.5% rise in November. November's figure was revised down from a 0.6% increase.
That was the largest decline since September 2009.
Consumer spending makes more than two-thirds of U.S. economic activity.
Falling gasoline prices and a strengthening labour market are expected to support consumer spending in the U.S. in the first quarter.
Personal income climbed 0.3% in December, exceeding expectations for 0.2% increase, after a 0.3% rise in November. November's figure was revised down from a 0.4% gain.
The personal consumption expenditures (PCE) price index excluding food and energy was flat in December, in line with expectations, after a flat reading in November.
On a yearly basis, the PCE price index excluding food and index rose 1.3% in December, after a 1.4% increase in November. Analysts had expected an increase of 1.4%.
The PCE index are below the Fed's 2% inflation target. The PCE index is the Fed's preferred measure of inflation.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
