Personal Income and Spending

We don’t have much in the way of data for Q3, but we got a nice hint today with the personal income and spending data for July. This data usually comes right after the GDP report.

The BEA said that personal income rose by 0.3% last month while personal spending rose by 0.4%. Those are pretty good numbers, but bear in mind that it only covers the first third of the third quarter.

Here’s the recent history:

The New York Fed’s Nowcast sees Q3 GDP growth coming in at 1.96%. The Atlanta Fed is at 4.1%.

Posted by on August 30th, 2018 at 12:25 pm


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