Personal income was flat in July, compared to a consensus forecast of 0.1%, and a previous decline of -1.1%. Disposable income was unchanged. Despite the government’s ‘Cash for Clunkers’ program consumer expenditures rose by 0.2%%, compared to a consensus forecast of 0.3%, and a previous reading of 0.6%. Continued weakness in the job’s market […]
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Personal Income
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 […]
Following last week’s mixed data, the market will be searching for indications of the strength and timing of a US economic recovery — and there will be plenty of places to look. In contrast to the relative quiet of the past several weeks, a slew of economic indicators pertaining to jobs and manufacturing should be […]