MISS: Personal Income Falls 3.6% Due To BIG Drop In Disposable Income
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There are lots of datapoints coming out today.
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First up:
Personal income was expected to fall by 2.4%, but it fell 3.6%.
Personal spending grew as expected 0.2%.
Note that the income is massively distorted due to some calendar quirks related to the fiscal cliff, and companies pulling forward dividends.
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There's also the element of payroll taxes dinging disposable income.
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