U.S. personal incomes declined by 543.5 billion (2.7%) in August, according to press release. Disposable incomes fell by $570.9 billion (3.2%) despite rise in personal expenditures by $141.1 billion. Fall in personal and disposable incomes caused by slowdowns in COVID-19 recovery payments.
- Personal spending is 0.7% versus estimated 0.5%
- Prior personal income revised higher from 0.4% to 0.5%
- Prior personal spending revised lower from 1.9% to 1.5%
- Prior Real Personal Spending (PCE) revised lower from 1.6% to 1.1%
- Decrease in personal income in August more than accounted for by a fall in unemployment insurance benefit
- Personal outlays increased $152.9 billion in August.
- Personal saving was $2.43 trillion while personal saving rate was 14.1%.
Stocks trending up as dollar weakens on risk sentiment due on falling personal incomes. DXY is down 0.08%, SPY is up 0.64%, TLT is up 0.055%, XAUUSD is up 1.27%
