The growth rate of the economy is slowing, according to the latest figures released from the Bureau of Economic Analysis. Back in August 2013, personal income grew at .5% and then is September grew at .4% but then in October, November, December started to wane with December’s growth less than .1 percent. This means we should prepare for a slower growth economy and possibly a stagnant one to come over the next 12 months.
Personal income increased $2.3 billion, or less than 0.1 percent, and disposable
personal income decreased $3.8 billion, or less than 0.1 percent, in
December according to the Bureau of Economic Analysis. Personal consumption
expenditures increased $44.1 billion, or 0.4 percent. In November,
personal income increased $29.8 billion, or 0.2 percent, DPI increased $14.4
billion, or 0.1 percent, and PCE increased $74.8 billion, or 0.6 percent, based
on revised estimates.