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ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-23-10 02:51 PM
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Comments on November Personal Income and Outlays Report

Comments on November Personal Income and Outlays Report

by CalculatedRisk

The BEA released the Personal Income and Outlays report for November this morning.

Personal income increased $42.3 billion, or 0.3 percent ... Personal consumption expenditures (PCE) increased $43.3 billion, or 0.4 percent.

...

Real PCE -- PCE adjusted to remove price changes -- increased 0.3 percent in November, compared with an increase of 0.5 percent in October.

<...>

The two-month method of estimating real PCE growth for Q4 (a fairly accurate method), suggests real PCE growth of 4.3% in Q4! So this looks like a pretty strong quarter for growth in personal consumption. The last time real PCE grew at more than 4% was in 2006.

<...>

This graph shows real personal income less transfer payments as a percent of the previous peak. This has been slow to recover - and is still 4.5% below the previous peak - but personal income less transfer payments is growing again.

Some of the increase in spending came from a decline in the personal saving rate, but overall this was a positive report and suggests solid GDP growth in Q4 (3% or higher).


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Clio the Leo Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-24-10 07:34 AM
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1. good nt
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