Real Disposable Income Declined but Spending Rose in August

Personal Income and Outlays 

The Personal Income and Outlays, report for August 2020 shows increasing stress on consumers. 

Real PCE vs Real DPI 2020 Detail

Increasing Consumer Stress

Personal income decreased 2.7 percent while consumer spending increased 1.0 percent in August.

Real disposable income declined by 3.5% while real spending rose 0.7%.

Stimulus Runs Out

The COVID $600 stimulus checks ended July 25.

The $300 stimulus checks ended September 5. 

For details, please see Trump's $300 Lost Wage Assistance Benefit Ended in 10 States

Fiscal stimulus has run its course.