The good news. Real GDP growth was revised for Q3 up to 3.6%.
The bad news. Personal consumption expenditures fell to 1.4% for Q3. There has been a steady decline in personal consumption expenditures since 1998.
The good news. Private investment in residential real estate rose 13.0% in Q3! And nonresidential structures grew at 13.8%.
The bad news. Real median household income (only through 2012) continues to decline.
We have a “GINI Paradox.” Since 2007, real median household income has fallen while income inequality (GINI) has risen. AND we have rising residential real estate investment?
The US needs real GDP growth, not just inventory growth. Here is private inventory growth, a large percentage of real GDP growth.