What Recession? Disposable Income Grows

by: Mark J. Perry
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Buried inside today's BEA report on April Personal Income (tables available here, see Table 10) is the statistic that "Real Disposable Personal Income" grew at an annual rate of 1.82% in April 2008 compared to April 2007, the highest rate of growth since December 2007 (see chart above).

This will probably not get a lot of attention from the media, but provides some additional evidence that the U.S. economy is not on the verge of recession, and might in fact actually be moderately healthy.