0ther than the employment report and the GDP report itself, the monthly report on Personal Income and Outlays from theBureau of Economic Analysis is probably the most important economic release we see monthly, as it gives us the monthly data on our personal consumption expenditures (PCE), which accounts for more than 2/3rds of GDP, and the PCE price index,
The July personal income and outlays report shows a 0.3% increase in consumer spending. When adjusted for inflation, consumer spending rose 0.2%. Personal income increased 0.4% while real disposable income also increased 0.4% for the month. This is moderate growth. Wages also seem to be finally picking up.
Other than the employment report and the GDP report itself, the monthly report on Personal Income and Outlays from theBureau of Economic Analysis is the most important economic release we see monthly, as it gives us the monthly data on our personal consumption expenditures (PCE), which accounts for more than 2/3rds of GDP, our personal income and disposable personal income data, our savings and savings rate,
The May personal income and outlays report shows a massive increase of 0.9% in consumer spending, which is great news for economic growth. Adjusted for inflation consumer spending rose 0.6%. Personal income also increased 0.5% Real disposable income increased 0.2% for the month.
The February personal income and outlays report shows a -0.1% change in real consumer spending, which is not good news for economic growth. Not adjusted for inflation consumer spending rose a scant 0.1%. Real personal income isn't any better with no change for the month.
The November personal income and outlays report shows a 0.5% change in consumer spending, even when adjusted for inflation. This is the highest monthly percentage change in consumer spending adjusted for inflation since February 2012 and is good news for Q4 GDP. October consumer spending was revised up to 0.4% for the month.
The July personal income and outlays report shows no change in real consumer spending, which is really bad news for GDP. Not adjusted for inflation consumer spending rose a scant 0.1%. Real personal income isn't any better with no change for the month. Personal income not adjusted for inflation rose 0.1%.
The Bureau of Economic Analysis has revised the National Income and Product Accounts all the way back to 1928. With the release of Q2 GDP, Gross Domestic Product magically added $559.8 billion to 2012 GDP in current dollars. Additionally the chained dollar base year was changed from 2005 to 2009, a very funky year where some deflation from 2008 was still present.
The April personal income and outlays report shows personal income has no change from last month, mainly due to less inflation. Disposable income decreased -0.1%, but adjusted for inflation, shows a monthly increase of 0.1%. Consumer spending decreased -0.2%, but when adjusted for inflation grew by 0.1% for the month, which is meager.
The February personal income and outlays report shows personal income bounced back by 1.1% from last month's nose dive that was due to the payroll tax holiday expiration and fiscal cliff deal. Disposable income increased 1.1% but after adjusted for inflation, shows a monthly increase of 0.7%. Consumer spending increased 0.7%, but when adjsted for inflation grew by 0.3% for the month.
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