US Economy Continues to Slow, Spending Down 1% in December

The Bureau of Economic Analysis of the US Department of Commerce released monthly figures for December showing that "personal income decreased $25.3 billion, or 0.2 percent, and disposable personal income (DPI) decreased $25.1 billion, or 0.2 percent, in December. Personal consumption expenditures (PCE) decreased $102.4 billion, or 1.0 percent. In November, personal income decreased $44.0 billion, or 0.4 percent, DPI decreased $33.9 billion, or 0.3 percent, and PCE decreased $77.8 billion, or 0.8 percent, based on revised estimates."