US: Personal Income rises 0.6% in December, Personal Spending declines 0.2%

• Personal Income in US rose more than expected in December.
• Personal Spending contracted at a softer pace than anticipated.

Personal Income in the United States increased by 0.6% in December, the data published by the US Bureau of Economic Analysis showed on Friday. This reading followed November's contraction of 1.7% (revised from 1.1%) and beat the market expectation of +0.1%. 

Further details of the publication revealed that Personal Spending decreased by 0.2% in the same period, which was slightly better than analysts' estimate for a fall of 0.4%.

Market reaction

The US Dollar Index is edging slightly lower following the US data releases and was last seen losing 0.05% at 90.40.