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Personal Income Down in September as Social Benefits Decrease

October 29, 2021 by Forex Winner Leave a Comment

Personal Income Down in September as Social Benefits Decrease

Source: Bureau of Economic Analysis

Personal income in the United States slipped in September, as government social benefits decreased during the month.

  • Personal income fell $216.2 billion, down 1.0% from the previous month. This follows three consecutive months of growth.
  • Disposable personal income fell $236.9 billion or 1.3%, while private consumption expenditures grew $93.4 billion or 0.6%.
  • Real DPI fell 1.6%, while Real PCE jumped 0.3%, with the PCE price index up by 0.3%.
  • The decline in personal income comes amid the lower government social benefits, both in unemployment and other benefits.
  • There were fewer releases from the pandemic compensation program, the Provider Relief Fund, and the Paycheck Protection Program.

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