US Consumer Spending Barely Rises in January

Economic Data Summary - The personal income price index increased by 0.3% in January, with a year-over-year decrease to 2.8% from 2.9% in December, while the core index rose by 0.4%, aligning with expectations and the previous month [1] - Personal income and spending both rose by 0.4% in January, indicating stronger-than-anticipated consumer activity, consistent with December's performance [2] - Durable goods orders remained flat overall, with a 0.4% increase excluding transportation, while non-defense capital goods orders showed no change, indicating stability in core economic indicators [2] - The GDP growth estimate for the fourth quarter was revised down to 0.7% from 1.4%, with personal consumption decreasing to 2% from 2.4%, suggesting a slowdown in economic activity [3]