US: Personal Income Surges on the Back of CARES Payments, While Spending Crashes 

<p>Following a 2.2% month-on-month contraction in March, personal income surged by 10.5% in April, well above market expectations for a 6.5% decline. The strength was due to the expanded unemployment insurance benefits and one-time checks from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which showed up in government social benefits that rose a […]</p>
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