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Tag Archives: Economic Releases

Personal income and spending

Personal income went up with the crisis due to Federal transfers of the Cares Act, which subsequently faded: Personal income excluding government support continues to lag behind prior levels: Even with the higher levels of total personal income consumption has lagged and most recently decreased as government benefits expired: A part of consumption comes from buying on credit, and with employment down, fewer people qualify for credit. So while the additional income reduces...

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