Since 1992

Since 1992

Personal incomes fell less than expected in April, data out Friday showed. Incomes dropped 13.1% last month as the impact from stimulus faded (figure below). Consensus saw a 14.2% decline. The range, from five-dozen economists, was -18.4% to -8%. Personal spending rose 0.5%, in line with estimates, while real personal spending dropped 0.1%. "The decrease in personal income in April primarily reflected a decrease in government social benefits," the BEA said. On the consumption side, current
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