Fast Facts

Ridiculous Headlines Say Surging Consumer Spending To Drive US Economic Growth

Real Personal Spending and Real Retail Sales - Click to enlarge

The BEA reported today that Personal Income rose and Consumer spending rose in July. The headline numbers were +0.4% and +0.3% respectively. These are seasonally adjusted month to month % gains. The numbers were also revised up for May and June. Let’s party! The Wall Street Journal headlined: U.S. Consumer Spending Rose in July Domestic consumption could continue to drive…

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