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Consumer Spending Rose By Most In 3 Months Driven By Higher Energy Costs

Tyler Durden's picture




 

For the third month in a row, personal spending missed Bloomberg's median expectation. However, as incomes rose 0.4% in June so spending also rose 0.4% - its best MoM rise in 3 months. The biggest MoM rise was in energy goods and services (+1.67% MoM - the biggest rise this year) - hardly the things sustainable recoveries are built on.

 

The personal savings rate was flat MoM at 5.3% - the same 'peak' level it hit in the middle of 2013.

 

 

Charts: Bloomberg

 

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Fri, 08/01/2014 - 08:50 | 5032044 ekm1
ekm1's picture

Yes, costs which sustain human life are counted as spending expansion.

 

All we need is a pandemic disease which will make us increase medical spending by 20% which would expand consumer spending and GDP by 20%

 

Let's do it

Fri, 08/01/2014 - 08:52 | 5032052 max2205
max2205's picture

In one day. I thought we were so broke that.......

Long Visa

Fri, 08/01/2014 - 09:00 | 5032075 SoDamnMad
SoDamnMad's picture

OK  You want a pandemic, we got EBOLA.  Spread it in a major US airport and look out. Coming to a neighborhood near you. 

Fri, 08/01/2014 - 09:06 | 5032102 STG5IVE
STG5IVE's picture

Ebola will be the newest thing spreading amongst the heroin users which has also reached epidemic proportions.  Then they will infect the homeless population who will literally melt in the streets.

Fri, 08/01/2014 - 08:51 | 5032045 101 years and c...
101 years and counting's picture

if inflation is too "hot", its noise. if its less than some econ PhD monkey's goal, we need to print.  thats the US in a nutshell.

Fri, 08/01/2014 - 08:53 | 5032053 firstdivision
firstdivision's picture

Food and energy is just noise, its all about tv sales.

Fri, 08/01/2014 - 09:06 | 5032103 Shizzmoney
Shizzmoney's picture

This should be good for DOW +1000 today

Fri, 08/01/2014 - 09:07 | 5032110 Smegley Wanxalot
Smegley Wanxalot's picture

Nothing says no inflation like spending more for the same.

Fri, 08/01/2014 - 09:14 | 5032132 Space Animatoltipap
Space Animatoltipap's picture

Stagflation.

Fri, 08/01/2014 - 09:17 | 5032141 fonzannoon
fonzannoon's picture

Fagflation. (rising prices but the fed is too gay to raise rates, not that there is anything wrong with that)

Fri, 08/01/2014 - 09:43 | 5032243 Space Animatoltipap
Space Animatoltipap's picture

That's would be in harmony with the gay family in the Dark House.

Fri, 08/01/2014 - 09:25 | 5032180 NOZZLE
NOZZLE's picture

Who the hell writes this kind of shit: " "In addition, the economy today is very close to achieving the central tendency outcomes for 2015 reported in the December 2013 Summary of Economic Projections." Except some giant foreheaded overintellect MBABOY named Plosssssser.

Fri, 08/01/2014 - 09:32 | 5032208 NoDebt
NoDebt's picture

"Volatile food and energy prices" are left out of the CPI calculation, why are they included in personal spending?

 

Fri, 08/01/2014 - 09:44 | 5032253 yellowsub
yellowsub's picture

How else can they manipulate the numbers?

Fri, 08/01/2014 - 10:46 | 5032491 gcjohns1971
gcjohns1971's picture

Energy expenses are less discretionary than debt payments.

 

They eye of the hurricane has passed.  Hold on tight, here come the winds again!

Fri, 08/01/2014 - 10:53 | 5032532 starman
starman's picture

And there's OBOLA!!!!!

Fri, 08/01/2014 - 12:13 | 5033065 ncdirtdigger
ncdirtdigger's picture

Consumer spending is up because I finally got that greeter job at Wallyworld so I went out and bought a big supply of adult diapers. Just in case of a barakoclypse.

Fri, 08/01/2014 - 13:20 | 5033518 scrappy
scrappy's picture

I filled up my car with gas yesterday. 53.00 This story is accurate.

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