September 23, 2021
Spending Up 2.6% YOY, Income Up 1.6% (Similar Story All Year)
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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%.
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The BEA's income and outlays report shows Real Disposable Income is up 1.6% from a year ago. Spending is up 2.6%.

The BEA'sIncome and Outlays Reportshows consumers have been tapping savings all year to support purchases.

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Consumers spent 2.6% more than a year ago. Incomes are up only 1.6% from a year ago. That pattern has repeated every month in the above table.

Real Disposable Income

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Savings Rate

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The numbers reflect averages. Those on the low end of the economic scale spend every penny they make, and then some.

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