Personal spending misses, personal income beats

Personal spending missed, but personal income beat.

For the month of January, personal income rose by 0.4% and personal spending came in at 0.2%.

Economists had forecast that both personal income and spending would rise by 0.3%.

Last month, personal spending rose by 0.5%, in line with expectations, while personal incomes came in at 0.3%, a hair below expectations.

Meanwhile, core PCE rose by 0.3% in month-over-month terms for January, above expectations of a 0.2% uptick, but rose by 1.7% year-over-year, below expectations of 1.8%.

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