Personal income is falling more than 13-percent.
But, it’s all relative.
The April numbers from the U-S Commerce Department are a bit skewed because they come on the heels of the March 2021 stimulus checks showing up, and most Americans received 14-hundred dollars from the federal government, and that caused a surge of 21 percent in personal income.
In April, without the boost from a stimulus check, personal income dipped 13 percent, but that is still better than a dip of 14 percent the Commerce Department was forecasting.
Americans continue to save at a high rate and consumer spending rose about a half percent in April.
Disposable personal income, after taxes and other government withholdings fell by 14-point-six percent.
3D render of a dollar sign disloving into dust.
Photo from Alpha Media USA Portland OR