US: Personal Income falls by 2.7% in August, Personal Spending rises by 1%
|- Personal Income in US fell more than expected in August.
- Personal Spending continued to rise at a modest pace.
Personal Income in the US declined by 2.7% on a monthly basis in August after rising by 0.5% (revised from 0.4%) in July, the US Bureau of Economic Analysis reported on Thursday. This reading came in slightly worse than the market expectation for a decrease of 2.4%.
Further details of the publication showed that Personal Spending in the same period increased by 1% to beat analysts' estimate of 0.5%.
Market reaction
The US Dollar Index showed no immediate reaction to these figures and was last seen losing 0.26% on the day at 93.56.
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