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Home  »  Economic Releases   »   Personal consumption, personal spending, rig count

Personal consumption, personal spending, rig count

Posted by WARREN MOSLER on August 28, 2020 in Economic Releases No Comments


Settling down as fiscal transfers subside, but still elevated:


Income falling faster than consumption is growing:

Real Personal Income less Transfer Payments

Transfer payments decreased by $70 billion in July, but were still $1.7 trillion (on SAAR basis) above the February level. Most of the increase in transfer payments – compared to the level prior to the crisis – is now from unemployment insurance.

However, there will be sharp decline in unemployment insurance in August.

Oil investment down and still falling a bit:

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