Americans’ Income, Spending Fall Much Harder Than Expected As Slowdown Accelerates

Americans’ Income, Spending Fall Much Harder Than Expected As Slowdown Accelerates

Concerns that falling incomes were destined to manifest in slower spending were realized in November, data out Wednesday showed (or maybe "confirmed again" is more apt). Personal income dropped far more than expected last month, falling 1.1%, versus estimates of a 0.3% decline. That comes on the heels of a revised 0.6% drop in October. The government cited "a decline in Paycheck Protection Program loans to businesses" as well as another drop in emergency wage assistance. Additionally, farm pro
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2 thoughts on “Americans’ Income, Spending Fall Much Harder Than Expected As Slowdown Accelerates

  1. I guess maybe we aren’t “moving out of the recession” after all. Now that Mitch has moved from head of the white list to the now disloyal enemy number one for the White House, the next steps will be interesting.

  2. It’s crazy how CNN has “experts” on to say that Americans don’t need stimulus checks. They say we will all just save the money and it will overheat the economy. You’ve shown here that people NEED these checks. Good work

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