The Big Four: Real Personal Income in December
Personal income (excluding transfer receipts) in December rose 0.27% and is up 5.3% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) MoM was up 0.21% and was up 0.3% year-over-year.
Real Disposable Income Per Capita Continued to Inch Up in December
With the release of Friday morning's report on December's personal incomes and outlays, we can now take a closer look at "real" disposable personal income per capita. At two decimal places, the nominal 0.22% month-over-month change in disposable income comes to 0.17% when we adjust for inflation. This is a decrease from last month's .28% nominal and 0.18% real change. The year-over-year metrics are 2.71% nominal and -2.20% real.
Small Cap Pioneers Share Their Investing Principles
As Royce Investment Partners, the pioneers of small cap investing, celebrate their 50th anniversary, Chuck Royce and Chris Clark take a look at the past 50 years to provide a take on what they have learned and how it guides their views on what is yet to come for the asset class.
Headline Durable Goods Orders Up 5.6% in December
The latest new orders number at 5.6% month-over-month (MoM) was better than the Investing.com 2.5% estimate. The series is up 11.9% year-over-year (YoY). If we exclude transportation, "core" durable goods was down 0.1% MoM and up 2.1% YoY.