US personal income dropped -4.2%, spending rose 8.2%

US personal income dropped -4.2% mom, or USD 874.2B in May, better than expectation of -6.0% mom. Spending, on the other hand, rose 8.2% or USD 994.5B, below expectation of 9.0% mom. Headline PCE price index slowed to 0.5% yoy, down from 0.6% yoy. Core PCE price index was unchanged at 1.0% yoy.

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