Americans’ Income & Spending Rose More Than Expected In July (Before Handouts Stopped)

Analysts expected the trend of the last two months to continue in July with personal spending rebounding (though at a slower pace) and personal incomes shrinking back, but both surprised to the upside with a +0.4% MoM rise in incomes and +1.9% MoM jump in spending ( vs -0.2% and +1.6% respectively).

Source: Bloomberg

Sending the savings rate lower (from 19.2% to 17.8%)…

Source: Bloomberg

Finally we note that The Fed’s favorite inflation indicator – Core PCE Deflator – re-accelerated in July, but at 1.3% remains well below any old or new mandate-driven level…

Bear in mind that this data – from July – was before the big handouts all stopped!

The original article is located at ZeroHedge.com

This content is provided by public RSS feed at https://feeds.feedburner.com/zerohedge/feed. Please contact us if you have any questions.


0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments