The U.S. Commerce Department’s Bureau of Economic Analysis today released personal income and outlays for September 2009. Personal income remained unchanged, real disposable personal income decreased 0.1 percent, and real personal consumption expenditures declined 0.6 percent.
“Real consumer spending grew strongly in the third quarter of 2009, despite a decline in September. This fact, combined with yesterday’s news that GDP increased in the third quarter, provides further evidence that the tough decisions the Obama administration made to rescue the economy from the abyss were correct. Even though there are still too many Americans out of work and still much work to be done, we’re headed in the right direction.”
Source: U.S. Department of Commerce
