US: Personal Income rises by 10% in January, Personal Spending increases by 2.4%

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  • Personal Income in US rose sharply in January.
  • US Dollar Index clings to strong daily gains above 90.60.

The data published by the US Bureau of Economic Analysis showed on Friday that Personal Income in the US grew by 10% in January following December’s increase of 0.6%. This reading came in slightly better than the market expectation of 9.5%.

Further details of the publication revealed that Personal Spending increased by 2.4% in the same period following December’s contraction of 0.4% and came in slightly worse than analysts’ estimate of 2.5%.

Market reaction

These figures don’t seem to be having a significant impact on the USD’s performance against its major rivals. As of writing, the US Dollar Index was up 0.55% on the day at 90.63.

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