Income growing slower than expected. Spending accelerating sharply.
August personal income up just 0.2% vs 0.5% forecast. Meanwhile spending jumped 0.9% after barely moving in July.
People are spending more while earning less than anticipated. That gap matters. It's either confidence or credit cards doing the work. Maybe both.
This pattern doesn't last forever.
August personal income up just 0.2% vs 0.5% forecast. Meanwhile spending jumped 0.9% after barely moving in July.
People are spending more while earning less than anticipated. That gap matters. It's either confidence or credit cards doing the work. Maybe both.
This pattern doesn't last forever.
