Data from the Bureau of Economic Analysis released a few moments ago showed an increase in the personal income rate by $9 billion, down by 0.1% in January, compared to 0.4% in the revised December reading (expectations at -0.3%). In contrast, personal consumption expenditures rose by $337.2 billion. By 2.11.3% compared to the December reading.
The personal consumption expenditures price index (PCE), the preferred index of the Fed, rose on a monthly basis at 0.6%, compared to 0.5% in December (expectations of 0.3%), on the other hand, the core index, excluded from it, food and energy prices settled at 0.5%.
The annual index rose to 6.1% in January compared to 5.8% in the December reading, while the main index, excluding food and energy prices, rose to 5.2% compared to 4.9% in the December reading, which reflects the continued rise in prices of goods and services at the beginning of the year.
On the other hand, orders for core and core durable goods rose faster than expected in January, as orders rose to 1.6 percent in January, compared to a decline of about 0.7 percent in the revised December reading, while the core index rose to 0.7 percent.
The focus of the markets and the US dollar is still confined to the impact of the Russian invasion of Ukraine and the rise in geopolitical tensions in the West, ignoring the economic data as the general index of the US dollar is trading at 97.90 levels.
05/11/2024
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