Consumer Sentiment

August 28, 2020 The final estimate of consumer sentiment for August rose 1.6 points to 74.1 which is slightly higher than the preliminary estimate of 72.8.  Thus, sentiment was apparently damped in the past couple months as the more rapid pace of spread of the virus...

Personal Income and Consumption Expenditures — Monthly

August 28,  2020 Personal consumption expenditures rose 1,9% in July after climbing 6.2% in June and 8.6% in May after having plunged by 12.9% in April and 6.7% in March.     What we are really interested in is consumption spending in real terms (i.e., after...

GDP

August 27, 2020 The first revulsion to second quarter GDP came in at -31.7% compared to a preliminary estimate of -32.9% and compared to a first quarter drop of 5.0%.  Basically, every category revised upwards by a very small amount.  But that is history and what we...

Final Sales

August 27, 2020 When the economy is slowing down, firms will accumulate unwanted inventories.   Those inventories still show up in GDP, but they are unsold.  Hence, GDP will be biased upwards.  Similarly, in good times businesses will reduce inventory levels to...