The Real Economy: Volume 75
Government transfers fuel robust income and spending
THE REAL ECONOMY |
Authored by RSM US LLP
Download The Real Economy Vol. 75
Government transfers from the end-of-year fiscal aid package were the primary catalyst for the 10% increase in income and the 2.4% jump in spending, a robust kickoff to what is going to be one of the more memorable years in economic activity in decades. The personal savings rate increased to 20% in January from 13.7% in December. The amount of national savings now stands at $3.93 trillion, $3.2 trillion above the pre-pandemic average. This combination of excess savings built up over the past year as a result of business curtailment and fiscal aid and stimulus that is in the legislative pipeline is the kindling what will likely be an economic boom later this year.
In this month’s The Real Economy, we examine the impact of government transfers, bridging the return to full employment, gender wealth parity, SPACs and capital markets, and cyberthreat trends in the middle market. Download the full report.
IN THIS ISSUE
This article was written by Joe Brusuelas and originally appeared on 2021-03-03.
2020 RSM US LLP. All rights reserved.
https://rsmus.com/economics/the-real-economy/the-real-economy-volume-75.html
RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each is separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/about us for more information regarding RSM US LLP and RSM International. The RSM logo is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.
Pugh CPAs is a proud member of RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.
Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise and technical resources.
For more information on how Pugh CPAs can assist you, please call 865.769.0660.
Let's Talk!
Call us at 865.769.0660 or fill out the form below and we'll contact you to discuss your specific situation.