- Personal Income in the US fell more than expected in June.
- Core PCE Price Index dropped to 0.9% on a yearly basis.
Personal Income in the US declined by 1.1% on a monthly basis in June after contracting by 4.4% (revised from 4.2%) in May, the US Bureau of Economic Analysis reported on Friday. This reading came in worse than the market expectation for a decrease of 0.5%.
Further details of the publication revealed that Personal Spending rose by 5.6% after expanding by 8.2% in May.
Additionally, the core Personal Consumption Expenditure (PCE) Price Index, the Fed’s preferred gauge of inflation, ticked down to 0.9% on a yearly basis from 1%.
Market reaction
The US Dollar Index edged slightly higher after these data and was last seen flat on the day at 92.96.
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