Consumer spending up in January

Personal income increased $11.4 billion, or 0.1%, and disposable personal income (DPI)decreased $47.6 billion, or 0.4%, in January, according to the Bureau of Economic Analysis. The decrease in DPI reflected an increase in federal nonwithheld income taxes. Personal consumption expenditures (PCE) increased $52.4 billion, or 0.5%. In December, personal income increased $41.2 billion, or 0.3%, DPI increased $40.3 billion, or 0.4%, and PCE increased $26.4 billion, or 0.3%, based on revised estimates.

Real disposable income decreased 0.6% in January, in contrast to an increase of 0.2% in December. Real PCE increased 0.3%, compared with an increase of 0.1%.

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