U.S. Economic News
July 31, 2020
U.S. Economic Indicators
Real disposable personal income decreased 1.8% in June, while real personal consumption expenditures (PCE) increased 5.2%. The PCE price index rose 0.4% (up 0.8% Y/Y), and the core price index (excluding food and energy) increased 0.2% (up 0.9% Y/Y). BEA Report
The University of Michigan Consumer Sentiment Index fell 5.6 points to 72.5 in the final July reading and is down 25.9 points from July of last year. The Index of Consumer Expectations fell 6.4 points to 65.9, while the Current Economic Conditions Index fell 4.3 points to 82.8. University of Michigan
U.S. News
Bloomberg reports that falling interest rates have made volatile assets – like gold, bitcoin, and stocks – more attractive to American investors looking to earn a higher return on their savings. Rates for high-yield savings accounts fell by more than half as the personal savings rate reached record highs in recent months, prompting more Americans to turn to the stock market for their long-term investments. Bloomberg