December Personal Income Up +0.2%, Below....>

US DATA: December Personal Income Up +0.2%, Below Expectations

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-Dec Personal Income +0.2%; Nominal PCE +0.3%; Chained PCE +0.1%

-Dec PCE Core Price Index +0.2% Vs Nov +0.1%; +1.6% Y/Y

-Dec Core Price Index Unrounded +0.22972% Vs +0.07842% Nov

-Dec PCE Chain Weighted Price Index +0.3% Vs Nov +0.1%; +1.6% Y/Y

-Nov Personal Income Rev To +0.4% (Prv +0.5%); Nominal PCE Unrev At +0.4%

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December's +0.2% rise in personal income largely reflected increases in 

employee compensation and personal interest income. However, the rise 

fell short of the +0.3% expected by markets. The increase in PCE was 

partly offset by a fall in farm proprietor's income, which decreased by 

$36.2 billion in December and included a drop in the Department of 

Agriculture's Market Facilitation Program's subsidy payments. December's 

$6.8 billion rise in real PCE also reflected a $2.5 billion spending 

increase for goods, driven by prescription drug spending, and a $4.4 

billion increase in services spending, driven by healthcare spending. 

The total PCE price index increased by +0.3%, above the expected +0.2%, 

while the core PCE price index came in at +0.2%, above the expected 

+0.1%.