Despte some moderation over the past six months or so, the trend growth in inflation-adjusted, or real, disposable income continues to ootpace real spending, mostly as a result of a persistent strengthening in personal income. Indeed, the recent trend in real spending growth has shown little deviation from the solid 21⁄2% to 31⁄2% range it has followed for the past three years.
Suggested citation: “Consumers,” Federal Reserve Bank of Cleveland, Economic Trends, no. 95-12, pp. 10, 12.01.1995.