Dr. Peter Morici: US Personal Income up; Consumer Spending lags; All Eyes on the Federal Reserve
Aug 5th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
On Monday, the US Commerce Department reported that June personal income increased $6.8 billion or 0.1 percent, and disposable personal income decreased $210.3 billion or 1.8 percent, because the stimulus rebate checks inflated May income figures. Personal consumption expenditures increased $76.5 billion or 0.6 percent but adjusted for inflation, consumer spending was down 0.2 percent.