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The Impact on Spending of Three Rounds of Free Money is Waning
Today the BEA released its Personal Income and Outlays report for June 2021 including an Annual Update. Key Items: • Personal income increased $26.1 billion (0.1 percent) in June. • Disposable personal income (DPI) decreased $2.6 billion (less than 0.1 percent) • Personal consumption expenditures(PCE) increased $155.4 billion (1.0 percent). • Real DPI decreased 0.5 percent in June and Real PCE increased 0.5 percent • The PCE price index increased 0.5 percent. • Excluding food and energy, the PCE price index increased 0.4 percent I will do a separate report on real numbers and price indexes. Personal ... (full story)