Americans’ Spending Slumps For Second Straight Month

Americans’ Spending Slumps For Second Straight Month

Americans’ personal spending dropped for the second month in a row in December, despite a modest (better than expected) rise in incomes on pandemic relief.

  • Purchases decreased 0.2% from the prior month, following a downwardly revised 0.7% decline in November.

  • Personal incomes rose 0.6%, stronger than the 0.1% gain projected.

Source: Bloomberg

On a year-over-year basis, spending is starting to drop faster (down 2.0%)…

Source: Bloomberg

It looks like we’re gonna need another bailout.

Tyler Durden
Fri, 01/29/2021 – 08:37

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