December construction spending fell 0.2 percent from November but up 5.0 percent year-on-year
Construction spending during December 2019 was estimated at a seasonally adjusted annual rate of $1,327.7 billion, down 0.2 percent from November but up 5.0 percent year-on-year. The value of construction in 2019 was $1,303.5 billion, down 0.3 percent from the total spent in 2018.
December personal income and spending growth both fell from November
Personal income growth fell by half between November and December (0.4 to 0.2 percent), while personal spending growth fell from 0.4 to 0.3 percent. The personal savings rate also declined slightly, falling from 7.8 to 7.7 percent of income.
Inflation tracker PCE Price Index rose 0.3 percent in December and 1.6 percent year-on-year
The PCE Price Index rose 0.3 percent in December (1.6 percent year-on-year), after being flat in the late summer and starting to rise again in the fall. The ‘core’ rate (minus food and energy) edged up to 0.2 percent in December (also 1.6 percent year-on-year).