All about risk
Link:https://mishtalk.com/economics/real-personal-spending-rises-twice-as-much-as-income-in-june/
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Real (inflation-adjusted) consumer spending rose 0.4 percent in June. Real disposable income rose 0.2 percent.
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Real PCE goods peaked in March of 2021. All of the growth in consumer spending for 27 months is due to an increase in demand for services.
Author(s): Mike Shedlock
Publication Date: 28 July 2023
Publication Site: Mish Talk
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The record suggests that, after periods of massive non-financial disruption such as wars and pandemics, GDP does bounce back. It offers three further lessons. First, while people are keen to go out and spend, uncertainty lingers. Second, crises encourage people and businesses to try new ways of doing things, upending the structure of the economy. Third, as “Les Miserables” shows, political upheaval often follows, with unpredictable economic consequences.
Publication Date: 1 May 2021
Publication Site: The Economist
Link: https://flowingdata.com/2021/02/24/how-spending-changed-for-different-income-groups/
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Excerpt:
The categories are roughly ordered from increased spending to decreased spending. So you see by how much the cost of housing and healthcare has gone up over a couple of decades, especially for the lower income groups.
For the lowest income quintile, housing and healthcare make up more than half of spending on average.
In contrast, the higher income groups are spending more in retirement savings, education, and entertainment, and their cost of housing changed little.
Author(s): Nathan Yau
Publication Date: 24 February 2021
Publication Site: Flowing Data