What GDP Didn’t Show Us about Personal Income
Today’s release on income and spending for March fills out the data from the last month of the first quarter of 2011. But wait, didn’t Q1 GDP come out yesterday, which contained Q1 estimates of income and spending? Sure did camperoos, so the value added from today’s release is that it provides more detail on the income side (that is, the flow of cash to and from consumers). So what juicy tidbits does today’s release contain? A couple of items of interest include recent drivers of income growth and spending on fuel.