Economic News Blog
Posted by: Steven Kline, Jr. 6. January 2020

November Income Growth at Historical Average

In November 2019, real disposable income was $15,133 billion, which was an all-time high. The month-over-month rate of growth was 3.1%, which was right at the historical average. Additionally, this was the second time in three months that the rate of growth was at or above the historical average, indicating that annual income growth may be near a bottom and ready to accelerate. 

The annual rate of growth was unchanged at 3.2%, which was its slowest rate of growth since January 2018. It was also down from its peak rate of growth of 4.0% in December 2018.

Keep in mind that changes in real disposable income typically lead capital equipment consumption by almost 24 months.

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