US personal income dropped -1.1% in Nov, spending dropped -0.4%

US personal income dropped -1.1% mom to USD 221.8B in November, worse than expectation of -0.3%. Spending dropped -0.4%, worse than expectation of -0.2% mom. Headline PCE index slowed to 1.1% yoy, below expectation of 1.2% yoy. Core PCE index was unchanged at 1.4% yoy, below expectation of 1.5% yoy.

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