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Personal spending rose in July at twice the pace of incomes as consumers borrowed to make purchases and the savings rate fell to a record low, government figures showed today.
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If they pulled it off, theirs would be the first coup anywhere since the end of the cold war that actually raised the pace of income growth.
The Oxford-based Migration Observatory says that the continuing relative strength of the UK labour market, weakness in southern European economies and the pace of income growth in eastern Europe are all unknowns.
The slow pace of income growth means living standards are being eroded, as prices were growing almost four times as fast as wages in the same month, at 2.7% a year.
Nonetheless, the pace of income growth has been very rapid in state-owned sector in recent years, which has regained its earnings advantage over the private sector (Bian and Zhang 2002).
Another interesting number is that rents have grown at twice the pace of income over the past 14 years.
Reflecting the slow pace of hiring, real incomes in this recovery have grown less robustly than in past cycles.
While metros like Monterrey and Mexico City have sizable enough populations and rabid fan interest, it's the pace of NAFTA-driven income acceleration that will no doubt determine if and when Mexico comes into the MLB fold.
Some of the nation's top energy, housing and business experts say the effort may not only raise the cost of staples, but also slow the pace of job and income growth for millions of California families.
The Indian tragedy is that with an efficient legal system of straightforward commercial laws and property rights, the country could easily grow at around 8% to 10% a year; at its current annual pace of 4% to 5% per capita incomes hardly budge.
Although unemployment remains high, companies are picking up the pace of hiring, and household income is growing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com