The August Personal Income and Spending numbers came in at 0.1% and 0.5%, respectively, on expectations of a 0.2% and 0.5% rise.
July personal income and spending data will be published on Monday.
Thursday will feature November durable goods orders, November personal income and spending, November new home sales and the final December University of Michigan consumer sentiment survey results.
Some of the other key U.S. economic indicators next week include personal income and spending Monday, Chicago Purchasing Managers Index and consumer confidence on Tuesday, ADP private-sector employment report and Institute for Supply Management manufacturing PMI Wednesday, and initial jobless claims Thursday.
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Monday brings news of personal income and personal spending.
U.S. economic data due for release Thursday includes the weekly jobless claims report, personal income and outlays, construction spending, the ISM manufacturing report and domestic auto industry sales.
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Between 1949 and 1974, annual net private investment averaged 10.3% of personal income, and although social welfare spending was constantly rising during this period, the above chart suggests it does not appear to have had any appreciable detrimental effects on new investment.
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Kennedy and Ronald Reagan achieved epic personal income tax cuts, but neither controlled spending, and both incurred budget deficits every year of their administrations.
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He therefore believes in cutting personal and corporate income taxes, reducing estate taxes, and cutting government spending.
All other, and arguably more important, indicators (Production and Income, Employment, Unemployment and Hours, and Personal Consumption and Spending) registered very negative readings.
Despite historically high unemployment and low personal income, consumers are spending.
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The dividend and personal income windfall from late last year may partly explain the healthy increase in consumer spending in January and February despite the big payroll-tax increase.
U.S. economic data due for release Friday includes the employment report, personal income and outlays, the ISM manufacturing report, construction spending and domestic auto sales data.
The above chart reveals how a tipping point was reached for new investment once social welfare spending rose above 10% of personal income and began claiming a larger share of income than new investment.
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But more importantly, you will have gained some personal knowledge of how you feel about your income, your spending, and your consistency with the financial health band wagon.
The relationship between the two is represented by the straight lines estimated to give the best fits between the data before and after social welfare spending reaches 10% of personal income.
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In the U.S., we can see it in the reversals of previously positive economic reports and unexpected declines in durable goods orders, industrial production, new home sales, existing home sales, new home starts, construction spending, new jobs creation, personal income, consumer confidence, small business confidence, and so on.
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U.S. economic data due for release Friday includes personal income and outlays, the U.S. manufacturing PMI, the University of Michigan consumer sentiment survey, construction spending, the ISM manufacturing report on business, the global manufacturing PMI, and domestic auto industry sales.
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