Household income soared a record 21 percent in March yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Americans incomes zoomed higher at record speed in March kitv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kitv.com Daily Mail and Mail on Sunday newspapers.
Last night, President Joe Biden tried to make the case for an extra $4.1 trillion in new spending on top of his $1.9 American Rescue Plan.
Today, the Bureau of Economic Analysis delivered what might constitute a crushing blow to such ambitions, even though it is clearly good news for the rest of us.
On an annualized basis, the economy grew by 6.4% in the first quarter of the year basically, for the three-month period before Biden’s first round of ARP spending went into effect. This level of growth, on par with what most experts estimated, was driven by consumer confidence and business reboots as onerous government lockdown measures fade away. Driven by a marked increase in spending on goods, personal consumption expenditures soared.