Personal Income and Outlays 

The Personal Income and Outlays, report for August 2020 shows increasing stress on consumers. 

Real PCE vs Real DPI 2020 Detail

Reall PCS vs Real DPI for August 2020 Detail

Increasing Consumer Stress

Personal Income and Outlays for August 2020

Personal income decreased 2.7 percent while consumer spending increased 1.0 percent in August.


Real disposable income declined 3.5% while real spending rose 0.7%.

Stimulus Runs Out

The Covid $600 stimulus checks ended July 25.

The $300 stimulus checks ended September 5. 

For details, please see Trump's $300 Lost Wage Assistance Benefit Ended in 10 States

Fiscal stimulus has has run its course. 


Personal Income Jumps But Spending Weak

Personal income rose 0.4% in August but spending, both nominal and real, rose a weak 0.1%

Personal Income Up 0.1%, Spending Up 0.6%: What's the Problem?

Personal Income is up 0.1%, spending is up 0.6%. Real Disposable Income is up 0.1%, real spending is up 0.4%.

Personal Income Up 0.2%, Smallest in 15 Months, Spending Up 0.4%

Personal income rose 0.2% in September, with real disposable income up only 0.1%. The CPI was up 2.0% year-over-year.

Personal Income Up But Real Consumer Spending Declines Second Month

The BEA’s Personal Income and Outlays report shows personal income rose 0.4% but consumer spending rose a scant 0.1% in February.

Disposable Income and Spending Jump: Real Income and Spending is Another Matter

Disposable personal income rose 0.4%, but real income rose only 0.1%. Real personal consumption expenditures were flat.

Spending Up 2.6% YOY, Income Up 1.6% (Similar Story All Year)

The BEA's income and outlays report shows Real Disposable Income is up 1.6% from a year ago. Spending is up 2.6%.