Personal Income Plunges in January Spending Up

first_img Personal income dropped $505.5 billion, or 3.6 percent, and disposable personal income (DPI) fell $491.4 billion, or 4.0 percent, in January, the “”Bureau of Economic Analysis””: (BEA) reported Friday.[IMAGE]Personal consumption expenditures (PCE) increased $18.2 billion, or 0.2 percent in January. In December, personal income increased $353.4 billion, or 2.6 percent, DPI increased $325.7 billion, or 2.7 percent, and PCE increased $14.8 billion, or 0.1 percent, based on revised estimates.The income drop was steeper than the 2.1 percent decline economists had expected. December’s income had been artificially inflated by special corporate dividend payouts in anticipation of changes in individual income tax rates, which were tied into negotiations to avoid the “”fiscal cliff.”” At the same time, January’s disposable income reflected the expiration of the two-year payroll tax holiday.The increase in spending was in line with economist forecasts.[COLUMN_BREAK]In January, dividend payments fell $362 billion or 34.8 percent. At the same time though, wages and salaries dropped $43 billion, all in the private sector. Government transfer payments–including Social Security payment and unemployment insurance compensation–rose $6.7 billion, half of which was Social Security as new cost-of-living adjustments kicked in January 1.The $18 billion monthly increase in personal spending was slightly higher than the $15 billion jump in December.Virtually all of the increase in spending came for services, which rose $28 billion. Purchase of non-durable goods in January was flat to December, and the purchase of durable goods–usually a sign of confidence because those purchases are funded by borrowing–fell $10 billion. Personal interest payments (non-real estate related) rose $3.6 billion in January, the first month-over-month increase since September, largely because of December durables purchases. As spending grew faster than income in January, personal savings fell from $797 billion in December to $284 billion in January, and the savings rate declined to 2.4 percent from 6.4 in December.Inflation, as measured by personal consumption expenditures–considered the Federal Reserve’s favored gauge–remained tame, dropping to 1.2 percent (year-over-year increase) from 1.4 percent in December. Core inflation (excluding food and energy) was 1.3 percent, down from 1.4 percent in December._Hear Mark Lieberman Friday on P.O.T.U.S. radio, Sirius-XM 124, at 8:45 a.m. and again at 11:45 a.m. EST._ March 1, 2013 393 Views Personal Income Plunges in January, Spending Up Agents & Brokers Attorneys & Title Companies Bureau of Economic Analysis Consumer spending Investors Lenders & Servicers Mark Lieberman Personal income Processing Service Providers 2013-03-01 Mark Liebermancenter_img in Data, Government, Origination, Secondary Market, Servicing Sharelast_img read more

Leading global travel search site Skyscanner has i

first_imgLeading global travel search site Skyscanner has identified five distinct flight booker types and found that over a third (38%) of British travellers consider themselves ‘safe bet bookers’.The Safe bet booker is identified as booking his flights as early as possible, unwilling to risk holding off in case flight prices should rise or flights sell out. The other booking behaviour types that were identified are:• The Competitive Booker: If the price looks reasonable they will book, however once booked, they check every day to see if they made the right decision.• The Efficient Booker: Once they know where they are going, they will just want to book, regardless of whether they are getting a good deal as they don’t have time to check prices. Efficient bookers are cash rich but time poor.• The Gambler: They want to get the very best price and if that means waiting until the last minute, they are happy to take that risk.• The spontaneous booker: This type of booker is pretty laid back about when they book or even where they are going. If they see a flight that looks good value, they will simply book it.The identification of these booker types follows Skyscanner’s recent study which revealed the best time to book flights is, on average, five weeks before departure. However only 11% of Brits would be happy to hold off until nearer the time, identifying themselves as Gamblers. Many more (29%) identified themselves as competitive bookers, while 12% saw themselves as efficient bookers and a further 10% identified with the spontaneous booker type.Skyscanner’s Mary Porter commented:”This study shows that we all look at booking our flights in very different ways with some competitive types almost seeing it as a game or a challenge while others have a far more laid back approach. Of course those who have to travel at a particular time are more likely to want to book in advance and we understand that – however our advice would be to track fares by signing up for price alerts, allowing them to see when lowest fares become available”.British Travellers by Booker Type:1. The Safe Bet Booker 38%2. The Competitive Booker 29%3. The Efficient Booker 12%4. The Gambler 11%5. The Spontaneous Booker 10%-ends-ReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Map RelatedWhat’s your travel personality? 10 types of trip planners who use SkyscannerHow do you use Skyscanner? Do you look at the cheapest flights from your nearest airport, check the best time to book using the charts or do you bounce to and from Skyscanner until finally deciding to book? See which one of these 10 personality types best describe your travel…Over 12m January bookers may miss out on cheapest flights, reveals SkyscannerSkyscanner’s analysis shows that the cheapest flight tickets are typically available five weeks in advance of travel.Busiest day of year for British travel bookers reports SkyscannerTomorrow (Tue 10 Jan) is ‘Skyber Tuesday’, the busiest day of the year for traffic to,last_img read more