Read more on this subject: Economy – Economics USA
News Story Source: Zero Hedge – Tyler Durden
US Personal spending and income habits are hard to decipher amid the massive government transfers and pent-up (and bought-forward) demand of various items – with spending plummeting and incomes soaring – and June pushed that even further with incomes falling 1.1% MoM, worse than the expected 0.6% drop; and spending rising 5.6% MoM (better than expected 5.2% and off a revised higher May).
On a year-over-year basis, incomes remain higher (government transfers) and spending lower…
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