Income of the US population decreased more than expected – Rosbalt


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Incomes of the population in the United States decreased in September this year by 1% relative to the previous month, follows from the data of the Bureau of Economic Analysis of the Ministry of Trade of the country.

At the same time, consumer spending in the specified period increased by 0.6% on a monthly basis. Experts, whose opinion was found out by the DailyFX portal, predicted a decrease in income by 0.2% and an increase in expenses by 0.5%, reports PRIME.

Meanwhile index Consumer sentiment at the University of Michigan (Michigan Consumer Sentiment Index), reflecting the degree of confidence of households in the US economy, fell to 71.7 points in October, according to the final estimate, from 72.8 points in September.

Analysts polled by the DailyFX portal expected the indicator to remain at the preliminary estimate of 71.4 points.

In addition, the index of current economic conditions in the United States fell to 77.7 points from 80.1 points in September. The original estimate was 77.9 points.

Note that on the eve of the release of the US Department of Commerce data, according to which the country’s economy in the III quarter, according to the first estimate, added 2% on an annualized basis (if GDP grew at the same rate for four quarters in a row). Experts polled by DailyFX predicted an increase of 2.7% in annual terms.

We also add that the US economy at the end of the II quarter of 2021 added 6.7% in terms of annual rates. At the same time, in annual terms, that is, in relation to the same period of the previous year, the country’s GDP in April-June increased by 12.2%.

In the first quarter of this year, the economy grew by 6.3% on an annualized basis and 0.5% on an annualized basis.

At the end of 2020, the US economy contracted by 3.4%. Thus, the fall of the world’s largest economy last year was the worst since 1946, when the indicator collapsed by 11.6%. In addition, this is the first decline in US GDP in a year since 2009, when the indicator dropped by 2.5%.


Source: Росбалт by www.rosbalt.ru.

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