Personal income fell 2.7% in August from the prior month with the expiration of supplemental unemployment payments. Consumer spending rose 1.0% month over month.
Leaders of the White House and House of Representatives will meet today on a fourth stimulus package after the White House proposed a $1.6 trillion deal as a counter to the House’s $2.2 trillion proposal.
In an unusual twist during the pandemic recession, the trade deficit has increased instead of decreased:
Pending home sales rose a record 8.8% from July to August, fueled by low interest rates.
A number of companies announced major staff reductions this week, indicating that job losses are escalating into higher wage positions:
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