U.S. Personal Income Fell Because December’s Big Gains Were Not Repeated and Tax Hikes Clipped PDIPosted by admin
Personal consumer expenditure (PCE) rose by 0.2% in January 2013, which was faster than December 2012′s downwardly revised 0.1% rise (previously 0.2%). Spending on durables fell 0.8%, largely reversing December’s 1.0% rise. Spending on non-durables was unchanged, and spending on services climbed by 0.4%. The volume of consumer spending rose 0.1% in January and matched December’s gain.