Real Consumer spending increases in August-27 month back High, almost to the level of PreRecession

You are here:Home > articles > economy > Real Consumer costs increase in August to ... According to today's report from BEA on "Personal income and expenses", reached the real personal consumption expenditure 27-month high on 9,321.2 billion dollars in August, the highest level of consumption since May of 2008 (see chart above).  Real consumption in August was only 34.3 billion USD (or 0.37%) during the peak of 9,355.5 billion $ reached in december 2007, the month, the American economy went into recession.
   From 16-month between January 2008 and april 2009 real personal consumption fell in 13 of these months; in 16-month period may, 2009-August 2010, consumption has increased in 13 months, as the economy has gradually recovered.Over the past seven months, consumption has increased every month except april. The August increased real expenditure was the fourth consecutive monthly increase and beat expectations of economists.
This increase in consumption during summer is compatible with the vast increase in August state tax revenue (including VAT) which was higher than expected in many States, see CD posts here with 13 States reporting increases in August in tax revenue.

Back to top

You are here:Home > articles > economy > Real Consumer costs increase in August to ...

View the original article here