Personal income increased $131.10 billion (0.6 percent) in January, according to estimates released today by the Bureau of Economic Analysis. Ahead of the report, traders were pricing in a 1.0% increase.
Disposable personal income increased $387.4 billion (2.0 percent) and personal consumption expenditures (PCE) increased $312.5 billion (1.8 percent).
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The PCE price index increased 0.6 percent. Excluding food and energy, the PCE price index also increased 0.6 percent. Traders were looking for the so-called Core PCE Index to rise 0.4%. On an annual basis, the Core PCE Index rose 4.4%.
For a look at all of today’s economic events, check out our economic calendar.