US: Income Gains Were Robust Ahead of the COVID-19 Shock

Personal income advanced by 0.6% month-on-month in February, above market expectations (+0.4%). Subtracting inflation and taxes, real disposable income growth was also strong, rising by 0.4% in the month. According to the Bureau of Economic Analysis, the rise in income reflected increases in compensation of employees and farmer proprietors’ income. This included subsidy payments from […]
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