Tax Rebates Likely Helped Consumers in May
June 29, 2008
Zubin Jelveh submits:
Spending data Friday morning hinted that the tax rebate checks may have propped up the all-important consumer in May. The following chart shows year-over-year gains in personal consumption expenditures for both the current stimulus round and also the one back in 2001. I’ll update as the monthly numbers come in.
Tax Rebates Likely Helped Consumers in May
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