Personal Income’s up +0.3% and spending’s up +0.1% —that means saving’s at a new high.
Or the combined take of the governments share is at a new high.
When Obama’s own economic mouthpiece (Reuters) is lamenting the Fed Gov economic numbers it must really be bad.
Or the combined take of the governments share is at a new high.
Oh goodness --everyone's forgotten to take their happy pills today! Dry those tears and go over this from the official BEA press release:
Personal income increased $23.7 billion, or 0.2 percent, and disposable personal income (DPI)
increased $23.7 billion, or 0.2 percent, in February, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $11.0 billion, or 0.1 percent. In January,
personal income increased $72.7 billion, or 0.5 percent, DPI increased $57.2 billion, or 0.4 percent,
and PCE increased $10.7 billion, or 0.1 percent, based on revised estimates.
Real DPI increased 0.3 percent in February, the same increase as in January. Real PCE increased
0.2 percent in February, in contrast to a decrease of less than 0.1 percent in January.
2015 2016
Oct. Nov. Dec. Jan. Feb.
(Percent change from preceding month)
Personal income, current dollars 0.3 0.3 0.3 0.5 0.2
Disposable personal income:
Current dollars 0.2 0.2 0.3 0.4 0.2
Chained (2009) dollars 0.2 0.1 0.3 0.3 0.3
Personal consumption expenditures:
Current dollars 0.2 0.4 0.1 0.1 0.1
Chained (2009) dollars 0.1 0.3 0.2 0.0 0.2fwiw, "disposable" means "after taxes" and that +0.3% DPI is "real" --after adjusting for inflation. We need to face the painful fact that real after tax income is up and folks ar saving most of it. If it hurts to much we can always look at soaring part time work and the shrinking labor force.