Urgent .. Release of data on personal spending and income indicators in the United States
December 20, 2024
The US Bureau of Economic Analysis released, a short while ago, data on personal spending and income in the United States during last November, which came out very negative and below expectations.
According to the data received today, Friday, personal income grew on a monthly basis by 0.3% during last November, which was lower compared to market expectations that expected personal income to grow by about 0.4%, noting that the previous reading of the index recorded a growth of 0.6% in October, and was revised to 0.7%.
Personal income data measures the change in the total value of income that consumers in the United States receive from all different sources on a monthly basis.
Meanwhile, the US personal spending index rose in November, recording a 0.4% monthly growth, higher than expectations of a 0.5% growth, after personal spending had risen by 0.4% at the end of last October, and was revised to a 0.3% growth. It is worth noting that personal spending data measures the change in inflation based on total consumer spending on a monthly basis, and it also reflects the performance of economic activity in the United States in general.