U.S. personal income and spending data for July 2026 confirm an economy in which shadows and bright spots are not taking turns—they are coexisting. Real wage growth has weakened, income from assets has lost purchasing power and households have drawn heavily on savings. At the same time, transfer receipts and lower personal taxes are supporting disposable income, while … [Read more...] about U.S. Personal Income and Spending, July 2026: Shadows and Bright Spots Coexist
PCE
Personal Income – May 2026: Consumer Strength Continues Despite Income Pressures
The May 2026 Personal Income report confirms a trend that has been developing for several months. While inflation and elevated borrowing costs continue to pressure household finances, the U.S. consumer remains remarkably resilient. Real personal consumption continues to expand, supported by steady wage growth, government transfers, and a willingness to draw down … [Read more...] about Personal Income – May 2026: Consumer Strength Continues Despite Income Pressures
Walmart, CPI, and the AI Hangover: What Really Matters This Week
Walmart Earnings: A Real-Time Barometer of the U.S. Consumer The most important data point of the week is Thursday’s fourth-quarter release from Walmart (WMT). More than many macro indicators, Walmart’s earnings represent a strong and tangible indicator of consumer spending trends across income brackets. Walmart captures the … [Read more...] about Walmart, CPI, and the AI Hangover: What Really Matters This Week
June 2025 PCE Update – U.S. Real Consumption Snapshot
U.S. Real Consumption Snapshot – June 2025 PCE Update Based on Bureau of Economic Analysis tables 2.8.5 and 2.8.4 (real PCE levels and PCE price indexes), the figures below capture the inflation-adjusted growth in spending across goods and services. Percent changes are shown for the latest month (June), year-to-date (YTD), and the most recent 12-month … [Read more...] about June 2025 PCE Update – U.S. Real Consumption Snapshot