Mosler Economics

Income less than expected, spending ok, so savings fell: Highlights Income growth proved very slight in September with inflation steady and moderate and right on the Federal Reserve’s target. Personal income inched only 0.2 percent higher in September which misses the low end of Econoday’s consensus range. Wages & salaries are September’s weak link, managing only a 0.2 percent gain. When stripping out taxes and looking at inflation-adjusted data, disposable income...

Looks like without the build in private inventories GDP was about 2% lower at about 1.4%, and health care added .77% where health care premiums paid count as personal consumption. Also, the price index deflator was lower by 1.3%: Bad: Bad: Highlights Lack of available new homes has been holding sales down this year though supply did move into the market in September, up 2.8 percent to 327,000 for a very strong 16.8 percent year-on-year gain that underscores how busy home...