Skip to main content
Publish date:

Real Personal Income Declines 1.6% in September, Down Second Month

Economists badly missed the mark on disposable personal income in September.
Author:
Personal Income 2021-09

The BEA's Personal Income and Outlays, September 2021 shows real disposable personal income declined 1.6%. 

Real spending rose 0.3%.

The year-over-year price index for Personal Consumption Expenditures (PCE), the Fed's preferred measure of inflation was 4.4%.

Excluding food and energy, the PCE price index rose 3.6%.

Economists Badly Miss the Mark on Income

The Bloomberg Econoday consensus was for nominal personal income to decline only 0.1% vs the reported -1.0%.

RECOMMENDED ARTICLES

The Econoday consensus for nominal spending was nearly on the mark, at 0.5% vs a reported 0.6%.

This was a very weak report. I will post chart details of what happened shortly. 

Thanks for Tuning In!

Like these reports? If so, please Subscribe to MishTalk Email Alerts.

Subscribers get an email alert of each post as they happen.

Read the ones you like and you can unsubscribe at any time.If you have subscribed and do not get email alerts, please check your spam folder.

Mish