You've seen the report: personal income up marginally, personal spending down marginally.
There's more.
Private wage and salary disbursements decreased $2.2 billion in June, in contrast to an increase of $15.0 billion in May. Goods-producing industries' payrolls decreased $1.8 billion, in contrast to an increase of $4.8 billion; manufacturing payrolls decreased $2.1 billion, in contrast to an increase of $4.1 billion. Services-producing industries' payrolls decreased $0.3 billion, in contrast to an increase of $10.1 billion. Government wage and salary disbursements decreased $0.4 billion, compared with a decrease of $0.5 billion.
Ugly. Not the end-of-the-world scenario that some are talking about, but if it repeats in July, .......
HT: Ticker
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1 comment:
Inflation, inflation everywhere!
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