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  • U.S. consumer spending rises 0.4 per cent in November, income increases 0.3 per cent, core PCE price index inches up 0.1 per cent
Ekonomické zprávy
20.12.2024

U.S. consumer spending rises 0.4 per cent in November, income increases 0.3 per cent, core PCE price index inches up 0.1 per cent

The Commerce Department reported on Friday that consumer spending in the U.S. rose 0.4 per cent m-o-m in November, following a downwardly revised 0.3 per cent m-o-m increase (from +0.4 per cent m-o-m) in October. Economists had expected an advance of 0.5 per cent m-o-m for November.

Consumer income increased 0.3 per cent m-o-m in November, after an upwardly revised 0.7 per cent m-o-m surge (from +0.6 per cent m-o-m) in the previous month. Economists had anticipated a 0.4 per cent m-o-m gain.

The November increase in personal income was mainly due to a gain in compensation, which was partly offset by declines in personal income receipts on assets and personal current transfer receipts.

Elsewhere, the personal consumption expenditures (PCE) price index, excluding the volatile categories of food and energy, which is the Federal Reserve's preferred inflation gauge, edged up 0.1 per cent m-o-m in November, following an unrevised 0.3 per cent m-o-m rise in October. This marked the weakest monthly increase in the core PCE price in six months. Economists had predicted the indicator would go up 0.2 per cent m-o-m.

In the 12 months through November, the core PCE price index soared 2.8 per cent, the same pace as in the 12 months through October. Economists had projected a gain of 2.9 per cent y-o-y.

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