- Personal Spending and Personal Income in US fell sharply in November.
- Market mood remains upbeat despite disappointing data on Wednesday.
The monthly data published by the US Bureau of Economic Analysis revealed on Wednesday that Personal Spending in November declined by 0.4% after rising by 0.3% in October. This reading came in worse than the market expectation for a fall of 0.2%.
Additionally, the publication revealed that Personal Income dropped by 1.1% in the same period and missed analysts’ estimate for a decrease of 0.3% by a wide margin.
Market reaction
Despite these disappointing figures, the S&P 500 Futures are still up 0.3% on the day at 3,687.
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