The Personal income in the US posted a 7.1% drop in February. Despite the magnitude, it did not generate surprise since even the market consensus was for a fall greater than 7.3%. In January there was a rise of 10.1%.
The consumer spending fell 1%, a decline greater than the average of analyst estimates which were -0.7%. In January they had risen 2.4%.
Regarding prices, the core price index for personal consumption expenditure advanced 0.1% in line with expectations. Compared to 12 months ago, the increase was 1.4%, below the 1.5% of the market consensus and the previous month.
The dollar fell modestly after the market report. The University of Michigan consumer confidence report for March (final) will be released later on Friday.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
