Income and spending show steady growth, but miss estimates

From Investing.com: 2024-12-23 03:13:00

In November, Personal Consumption Expenditures (PCE) increased +0.1%, with food and energy prices rising +0.2%. Excluding food and energy, PCE rose +0.1% and +2.8% over the last 12 months. Personal incomes rose +0.3% in November, slightly below expectations, but remained steady annually. Real incomes increased +0.2% in November. Personal spending grew +0.4%, contributing 2/3rds of GDP. Year-ahead inflation expectations rose to +2.8% in November. The Fed lowered short-term rates by 25 basis points. Market speculated on the impact of a potential government shutdown. Interest rates may impact stock valuations in 2025.



Read more at Investing.com: Income and Spending Miss Estimates, but Show Steady Growth Above Inflation