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Consumer spending growth slows as income falls

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A decline in income, a pullback in sentiment, and rising jobless claims pose a risk to spending growth and the recovery. New home sales off slightly, but level still close to highest since 2006. Durable goods orders up, as factory activity continues to improve. State conditions still broadly positive. Recession odds remain low. Corporate profits surge in Q3, bolstered by PPP and other government help.

Ned Davis Research | Economics | U.S. Daily Perspectives NL | Daily

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