Thursday, 25 June 2015

Personal income, spending, and saving: a trifecta of good news for the US economy

This morning's report on personal income, savings, and spending completes the picture of the consumer coming back after a brief hibernation. And consumers aren't spending all of their gas savings, they have simply returned to normal.

To the graphs!  First, here is a comparison of real retail sales through May (blue) vs. real personal consumption expenditures (red):



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