Disposable Income Grows at Fastest Rate of 2013
According to the Bureau of Economic Analysis, August real disposable income was $11,657 billion real dollars (seasonally adjusted at an annual rate). The month-over-month rate of growth in August, 1.6%, was the fastest rate of growth since October 2012 (excluding the artificially high growth rates in November and December 2012 due to tax law changes). This rate of growth is nearly twice the rate of growth seen in the first half of 2013. The annual rate of change remained at 1.5%, which is fairly similar to what it has been since April 2012.
Real personal income is one of the earliest leading indicators for the following end markets: aerospace; construction materials; custom processors; electronics, computers and telecommunications equipment; food and beverage processing; forming and fabricating (non-auto); hardware; HVAC; industrial motors, hydraulics and mechanical components; machinery and equipment manufacturing; metalcutting job shops; oil, gas field and mining machinery; power generation; primary metals; and printing.
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