January 31, 2014
Statement from LIA Chief Economist on Consumer Spending and Personal Income
By: Dr. John A. Rizzo
Statement From LIA Chief Economist on Consumer Spending and Personal Income
"The higher than expected rise in consumer spending in December provides further evidence of continued economic growth. Personal income was flat, however, so this increased spending was financed by consumer savings, as the savings rate declined," said John Rizzo, LIA Chief Economist.