US: Personal Income decline by 0.7% in October vs. 0% expected

• Personal Income in the US declined in October.
• Personal Spending rose more than expected in the same period.
• US Dollar Index stays in the negative territory slightly above 92.00.

Personal Income in the US fell by 0.7% on a monthly basis in October following September's increase of 0.7% (revised from 0.9%), the US Bureau of Economic Analysis reported on Wednesday. This reading came in worse than the market expectation of 0%.

Further details of the report revealed that Personal Spending rose by 0.5% and beat analysts' estimate of 0.4%.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.13% on a daily basis at 92.10.