In my previous post, Real Personal Income Declines 1.6% in September, I noted real (inflation adjusted) income was down 1.6%.
The lead chart in this post shows a breakdown of nominal income.
مالی محرک
Three rounds of fiscal stimulus clearly stand out.
Personal Current Transfer Receipts (PCTR) includes things like the SNAP (food stamp program) but also pandemic aid checks under both Trump and Biden.
- Personal Income excluding PCTR was $16,580 billion in September of 2021 vs $15,798 billion in February of 2020 pre-pandemic.
- PCTR was $3,913 billion in September vs. $3,208 billion in February of 2020.
- PCTR Other was $894 billion in September vs. $506 billion in February of 2020.
تجویز کردہ مضامین
Fiscal stimulus is still ongoing, but waning. That stimulus and the wealth impact from the stock market is what kept consumers spending.
Meanwhile, the economy is slowing, mortgage rates rising, and tax hikes are on the way.
For discussion of the current picture, please see MishTalk TV Episode #3: Lacy Hunt Still Bullish on Treasuries.
ٹیوننگ ان کے لیے شکریہ!
یہ رپورٹس پسند ہیں؟ اگر ایسا ہے تو، براہ مہربانی MishTalk ای میل الرٹس کو سبسکرائب کریں۔.
سبسکرائبرز کو ہر پوسٹ کے ہوتے ہی ایک ای میل الرٹ ملتا ہے۔
اپنی پسند کو پڑھیں اور آپ کسی بھی وقت ان سبسکرائب کر سکتے ہیں۔ اگر آپ نے سبسکرائب کیا ہے اور آپ کو ای میل الرٹس نہیں مل رہے ہیں، تو براہ کرم اپنا سپیم فولڈر چیک کریں۔
مش
