All I hear on CNBC is that the market shrugged off the horrendous GDP figure as personal consumption showed surprising strength. Is that true?
Yes...
And no...
Looking at the above change in personal consumption expenditure year over year, one can see the quarter over quarter figure was up, but just a rebound off of massive lows.
Source: BEA
Wednesday, April 29, 2009
Consumption Strength? Yes and No...
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Nice job on the year over year PCEs; illuminating.
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