DDM - Personal Income Remains Weak Outlier In U.S. Expansion

• The recovery in household income has been notably soft relative to recoveries over the past 50 years.
• If personal income’s rebound remains unusually weak, as it has so far, there will be a cost for the US economy, perhaps in the form of softer-than-expected gains in consumer spending in the months and years ahead.
• Three other key indicators for economic activity – employment, consumer spending and industrial production – continue to post unusually strong recoveries vs. previous expansions.

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