Personal Income in June grew at 0.1%, but economists were expecting 0.2% growth, and they revised the May Personal Income number down to 0.2% from 0.3%. So we ain’t earning much, and we’re earning less than we thought we were, which wasn’t much to start with.
Personal Spending in June DECREASED!, -0.2% when economists were expecting an increase of 0.1%. But they did revise the May Personal Spending number upward to 0.1% from 0.0%, whoopee!
Okay so in response to not earning diddley, we are not spending squat. Seems perfectly rational to me.
John Broussard
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