US personal income dropped -1.1% mom or USD 222.8B in June, worse than expectation of -0.8% mom. Spending, on the other hand, rose 5.6% mom or USD 737.7B, above expectation of 5.0% mom.
Headline PCE price index rebounded to 0.8% yoy, up from 0.5% yoy, above expectation of 0.5% yoy. Core PCE price index slipped to 0.9% yoy, down from 1.0% yoy, missed expectation of 1.0% yoy.
