Download the November 2021 Snapshot
- Consumer spending on durable goods continued to fall, while labor market data were strong.
- GDP growth slowed in Q3.
Consumer spending increased at a much slower pace, with a drop in purchases of goods offsetting higher spending on services. Investment spending on equipment, residential investment, exports, and federal government spending all declined.
- Real disposable income fell in September. The drop was largely due to a steep decline in unemployment insurance payments. Compensation and proprietors' income rose. Saving as a percent of personal income retreated to pre-pandemic levels.
- Payroll employment growth picked up in October and the unemployment rate fell again.
- Core PCE inflation over the year stayed at 3.6% in September, while October core CPI inflation accelerated to above June’s peak rate.
- The 10-year Treasury yield has stayed near 1.55% since mid-October. The S&P 500 stock index moved higher, putting the index up 25% year-to-date on November 5. The market-implied federal funds rate path shifted up slightly for intermediate maturities.
We post accompanying data for the charts, if permitted, with the intent to expand the series to the fullest extent possible.
Read more about the launch of the series: Just Released: U.S. Economy in a Snapshot
, Liberty Street Economics
, June 2015
2021 Release Dates