Households Are Getting Much More Overextended
May 29, 2022 at 08:37 AM EDT
In April nominal personal income rose 0.4%, and spending rose 0.9%. March’s spending was revised up from 1.1% to 1.4%. The personal consumption deflator, rose only 0.2%, so real income rose 0.2%, and real personal spending rose 0.7%. So far, so good.