Personal Income Drops 2nd Month, Is the Cure More Free Money?
Personal income declined for the second month and spending declined as well in November.
Personal income declined for the second month and spending declined as well in November.
Personal Income and Outlays
The BEA's Personal Income and Outlays report for November shows a second decline in income.
- Personal income decreased $221.8 billion (1.1 percent) in November.
- Disposable personal income (DPI) decreased $218.0 billion (1.2 percent).
- Personal consumption expenditures (PCE) decreased $63.3 billion (0.4 percent).
- Real DPI decreased 1.3 percent in November and Real PCE decreased 0.4 percent.
- The PCE price index had no change.
- Excluding food and energy, the PCE price index had no change.
Personal Consumption Expenditures (PCE) have almost recovered to pre-pandemic levels but has essentially been flat for many months.
More Free Money?
That's the current debate isn't it?
Curiously, AOC Agrees With Trump's Request to Send $2,000 Free Money to Everyone
One astute reader noted that is backwards. Trump now agrees with AOC.
Mish