US Personal Spending Rises The Least In 6 Months
Personal spending in the United States edged up 0.1 percent month-over-month in February of 2017, easing from a 0.2 percent gain in January and below market expectations of 0.2 percent. It is the smallest gain since August amid delays in the payment of income tax refunds and mainly due to a fall in purchases of durable goods.
Consumption rose 0.1 percent for services, the same as in January; was flat for nondurable goods, following a 1 percent jump in January and declined 0.1 percent for durable goods, after shrinking 0.6 percent in the previous month.
Personal income increased 0.4 percent, lower than an upwardly revised 0.5 percent gain in January but matching market expectations. It primarily reflected increases in wages and salaries and rental income of persons.
Personal outlays increased $7.5 billion; personal saving was $808.0 billion and the personal saving rate was 5.6 percent.
Disposable personal income (DPI) increased $44.6 billion (0.3 percent). Real DPI went up 0.2 percent and real PCE decreased 0.1 percent, mainly due to a fall in spending for services that was partially offset by an increase in spending for nondurable goods.
The PCE price index increased 0.1 percent after a 0.4 percent rise in January. Excluding food and energy, the PCE price index went up 0.2 percent, below 0.3 percent in the previous month.
3/31/2017 12:46:46 PM