An annual Census Bureau report showed stunning results in consumer wage growth.
This chart from the Census Bureau report shows it all, as overall incomes increased a whopping 5.2%
5.2% That’s Huge!
Two thirds of our economy (Gross Domestic Production) is consumer spending related.
A 5%+ increase on over two thirds of the economic spending and growth is good news.
More Income, More savings
Personal Savings Rate
Consumer Sentiment on the rebound
Household debt as a % of GDP
Recall here our notation of the growth in GDP…
Great news for the economy!
Have a better Economy day!
John A. Kvale CFA, CFP