Personal income in the United States dropped significantly in August, down 2.7percent

category:Finance
 Personal income in the United States dropped significantly in August, down 2.7percent


Personal consumption expenditure accounts for about 70% of the total U.S. economy. The continued decline of personal income may lead to the decline of personal consumption expenditure in the fourth quarter of the United States, which will affect the process of economic recovery in the United States.

According to data released by the U.S. Labor Department on Monday, 837000 people applied for unemployment benefits for the first time in the week ending September 26. As of September 19, the number of people applying for unemployment benefits in the United States was at a high level of 11.767 million, highlighting the difficulties in the recovery of the employment market. According to data released by the U.S. Department of Commerce, in the second quarter of this year, the U.S. gross domestic product fell at an annual rate of 31.4%, of which personal consumption fell by 33.2%. Although the market is generally expected that the U.S. economy is expected to rebound significantly in the third quarter, the possibility of the economy falling into recession in the whole year is still high. Source: Xinhuanet editor in charge: Wang Xiaowu_ NF

According to data released by the U.S. Labor Department on Monday, 837000 people applied for unemployment benefits for the first time in the week ending September 26. As of September 19, the number of people applying for unemployment benefits in the United States was at a high level of 11.767 million, highlighting the difficulties in the recovery of the employment market.

According to data released by the U.S. Department of Commerce, in the second quarter of this year, the U.S. gross domestic product fell at an annual rate of 31.4%, of which personal consumption fell by 33.2%. Although the market is generally expected that the U.S. economy is expected to rebound significantly in the third quarter, the possibility of the economy falling into recession in the whole year is still high.