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Personal Consumption Expenditure

Personal Income Falls Slightly More Than Expected

Personal Income fell 1.3% in June, compared to a revised increment of 1.3% in May.  This decline was likely due to continue weakness in the labor market coupled with a reduction in government transfers through stimulus payments.  May’s data included several one-time government payments to eligible individuals  that totaled US$157.6bn at an annual rate.  June’s […]