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SMLL - Real Personal Income Spending And Consumer Sentiment For July
Direxion Daily Small Cap Bull 2X Shares
July personal income and spending were reported this morning. Since real personal income drives one important election model, I have been waiting to see if July would reflect the end of the emergency Congressional assistance. It didn't.
Real personal income rose less than 0.1% in July. While it is down by -6% from April, it is up a huge 7.1% from July 2019. Real disposable and per capita income show similar trajectories:
April represented the $1,200 stimulus checks as well as the Congressional emergency assistance. The former was one time only; the latter ended at