Personal spending for December 2020 -0.2% vs. -0.4% estimate. Personal income +0.6%

Personal income and personal spending for December 2020

• prior month
• Personal income +0.6% vs. +0.1% estimate. Last month -1.1% revised to -1.3%
• Personal spending -0.2% vs. -0.4% estimate. Last month -0.4% revised to -0.7% in November.
• Real personal spending -0.6% vs. -0.6% estimate. Prior month -0.4% revised to -0.7%.

Inflation:

• Core PCE deflator MoM 0.4% vs. 0.3% estimate. Last month 0.0%
• Core PCE deflator YoY 1.3% vs. 1.2% estimate. Last month 1.1%
• PCE deflator MoM 0.3% vs. +0.1% estimate. Last month 0.0%
• PCE deflator YoY 1.5% vs. 1.3% estimate. Last month 1.4%

inflation data still remains will below 2% target. Personal spending now down for the 2nd consecutive month after 6 positive months from the April and March 2020 plunge. Personal income rebounded after a sharp -1.3% decline in November revised from -1.1%.. All prior month's will revised lower which is a worry