Both income and spending were expected to rise in April (with Americans spending more than they earn once again – as we already have seen hints of from the record surge in credit card use )… …And as expected spending soared (+0.9% MoM vs +0.8% exp) while incomes grew only modestly (+0.4% MoM vs +0.5% exp)… This is the 7th straight month of rising incomes.
On the income side of the equation, Private workers wages rose 12.7% YoY, slowing from 14.0% YoY in March, while Government workers’ wages rose 5.6% YoY, down only modestly from 5.7% YoY in March
On a […]
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