Incomes Grew at Slowest Rate since September 2014

June real disposable income was $12,176 billion dollars (seasonally adjusted at an annual rate). This was an all-time high for real disposable income. In June, disposable income grew 3.0 percent compared with one year ago. This was the slowest rate of month-over-month growht in incomes since September 2014. Also, this was the first month of below average income growth since September 2014. The annual rate of change ticked up to 3.2 percent. Disposable income has been growing at an accelerating rate since June 2014, but that trend looks like it will end soon.

Real disposable income is one of the earliest leading indicators for the following end markets: aerospace; construction materials; custom processors; electronics/computers/telecommunications equipment; food/beverage processing; forming/fabricating (non-auto); hardware; HVAC; industrial motors/hydraulics/mechanical components; machinery/equipment manufacturing; metalcutting job shops; oil/gas field/mining machinery; power generation; primary metals; and printing.