US Consumer Spending Barely Rises in January

• US Jan. Core PCE Price Index rose 0.4% M/M and 3.1% Y/Y, meeting estimates.
• US Jan. Personal Spending increased 0.4% M/M, slightly stronger than the +0.3% estimate.
• US 4Q GDP was revised down significantly to +0.7% annual pace from an estimated +1.4%, with personal consumption falling to 2.0% from 2.4%.

The report covers January's economic data, including the Core PCE Price Index rising 0.4% month-over-month and 3.1% year-over-year, aligning with estimates. Personal spending increased 0.4% month-over-month, slightly above expectations. However, US Q4 GDP was significantly revised down to a 0.7% annual pace from an estimated 1.4%, and personal consumption growth also fell.