AMERICANS SPEND MORE FREELY
Consumer Income StillJigh FEDERAL BOARD REPORTS (N.Z. Press Association—Copyright) (Rec. 8.15 p.m.) WASHINGTON, November 24. The Federal Reserve Board announced to-day that the total consumer income in the United States was 90 per cent, higher now than in 1939, but it was 3 per cent, less than the peak reached late last year. The board said that the continued high level of consumer income and willingness to spend it had helped markedly in cushioning the economic downturn earlier this year. The board noted that people had come back to spending an increasing proportion of their income—93.l dollars a hundred dollars of income after taxes in the third quarter of this year, compared with 91.6 dollars in the first quarter and 92.3 dollars in the third quarter of last year.
The board said/ that consumer income was at the rate of 210.600,000,000 dollars a year in the third quarter of this year, reflecting a 19 per cent, increase for the post-war period alone. Wage and salary income, which accounted for 134,400.000,000 dollars of the total consumer income, was up 98 per cent, from 1939 and 23 per cent, irom 1946.
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Bibliographic details
Press, Volume LXXXV, Issue 25971, 26 November 1949, Page 7
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193AMERICANS SPEND MORE FREELY Press, Volume LXXXV, Issue 25971, 26 November 1949, Page 7
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