US: Personal Income rose 0.3% MoM in December vs 0.5% exp, Personal Spending fell 0.6% MoM vs 0.6% expected drop

US Personal Income rose by 0.3% MoM in December, below expectations for a 0.5% MoM rise, according to a report released on Friday by the Bureau of Economic Analysis and Department of Commerce. That marked a slight deceleration from November's 0.5% MoM growth rate. Meanwhile, Personal Spending fell by 0.6% in December, in line with expectations for a 0.6% MoM drop, confirming a deceleration from November 0.4% MoM positive growth rate.