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May 30th, 2008 (Modified on June 26th, 2008)

Personal Spending in Slow Motion

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Personal Consumption Expenditures (PCE), an index which measures consumer spending, remained on the positive side of the ledger for April, but was down 0.2% from March. PCE makes up about 71% of the Gross Domestic Product, and is a gauge of how well consumers fare in the economy. Excluding the unpredictable costs of food and energy, personal spending barely reported a positive reading at .1%.

In a last-ditch effort to boost personal spending, the U.S. government has and will continue to issue stimulus checks to anyone who has submitted a tax return. The last round of stimulus checks issued by Washington was in the summer and fall of 2001, when individuals were issued checks of either $300 or $600 dollars. This summer, when the last round of stimulus checks is doled out in July, 131 million households will receive $110 billion.

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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