Personal Income (Feb 28)

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 5.7% in the fourth quarter of 2009, (that is, from the third quarter to the fourth quarter), according to the “advance” estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 2.2%.

In Q4 of 2012 Canada’s GDP showed poor growth. Citigroup announced that it has increased its forecast of possible legal and regulatory risk in excess of reserves from $4 billion to $5 billion. SEC investigating Chesapeake Energy Corp over on multimillion controversial program.  

Personal income increased $133.2 billion, or 1.0 percent, and disposable personal income (DPI) increased $78.3 billion, or 0.7 percent, in January, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $23.7 billion, or 0.2 percent. In December, personal income increased $56.6 billion, or 0.4 percent, DPI increased $48.5 billion, or 0.4 percent, and PCE increased $56.5 billion, or 0.5 percent, based on revised estimates. Full Text

The Bureau of Economic Analysis report on Personal Income and Outlays for January shows a 4% decline in real disposable income (the biggest drop in 20 years) following sharp gains in December. Personal Consumption Expenditures (PCE) eked out a .1% month-over-month gain. Personal Income and Outlays, January 2013

Personal income increased $3.8 billion, or less than 0.1 percent, and disposable personal income (DPI) decreased $4.6 billion, or less than 0.1 percent, in July, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $25.0 billion, or 0.2 percent. In June, personal income decreased $133.4 billion, or 1.1 percent, DPI decreased $119.9 billion, or 1.1 percent, and PCE increased $60.9 billion, or 0.6 percent, based on revised estimates.

According to the U.S. Bureau of Economic Analysis the average state personal income growth has slowed to 3.5% in 2012. Report from Statistics Canada shows that in February consumer prices have the biggest monthly increase in more than two decades, as prices of consumer goods increased from January. The increasing number of oil-refining companies in Asia might cause a reduction in margins. In the coming months the rupee will most probably retain its level of 54.30 to the dollar, since analysts do not expect any major concussions.

In a news release that would have been blamed on delayed tax refunds and "the weather" if it was a miss, but confirms a stronger consumer if it beat, and denies everything Wal Mart was warning about regarding February sales, today's retail sales just came stronger than expected in both the headline print (+1.1%, on expectations of a +0.5% rise), the Ex-Autos (+1.0%, Exp. 0.5%), and the Ex-autos and gas (0.4%, Exp. 0.2%). All of this of course was on a seasonally-adjusted basis (more on this shortly).

One look at the headline December data and one would get the impression that millions of Americans had started dealing meth out of some New Mexico RV, as personal income exploded by the most in 8 years, soaring some 2.6% in December to $13.936 billion.