Thursday, May 1, 2008

Real out-of-pocket spending shrank in Q1

Posted by: Michael Mandel on May 01

According to the BEA’s latest report, real personal consumption grew at a 1% rate in the first quarter. But once I take out the parts of PCE which don’t actually come directly from consumer pockets, the rest of real PCE actually shrunk at an 0.1% rate.

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