Uncle Sam Delivers A Strong Economy This July Fourth, amid seemingly unprecedented crosscurrents, The Great Expansion enters its eleventh year. From the depths of The Great Recession, this growth cycle is officially now the longest expansion in U.S. modern history, and the latest data extends the star-spangled banners economic wave of growth. Consumer income, the key driver of the nation’s growth, rose at a strong pace, and broadly, over the 12 months ended May 31st. The growth rate in consumer income, which accounts for 70% of the U.S. economy, actually accelerated from a month earlier. At the end of April, personal income had grown 3.9% over 12 months earlier; at the end of May, the 12-month growth rate rose to 4.1%. Personal income is mostly comprised of wages and benefits paid to employees but also includes interest, dividend, proprietor and rental income, as well as payments from Social Security, Medicare, and other government programs. All four types of income tracked by the government grew nicely in the 12 months through May. Real disposable personal income, after inflation and taxes, rose by 1.7% in the 12 months through May. That’s about as good as the peak five-year growth rate in real DPI in the last expansion. May’s 1.7% rate of growth in what consumers have in their pockets available to spend was an improvement over April’s 1.5%. With the strength of the economic data, share prices of American companies have been hovering near an all-time high. Despite the real strength and length of The Great Expansion and the all-time high stock prices, this newly released data indicates that consumers sentiment is positive but far below levels that preceded the irrational exuberance leading to the tech stock bubble of 1999. So Happy Birthday Uncle Sam and may God continue to bless America!!! Please contact us with any questions or to set up a meeting. Don't hesitate to share this video with people who might benefit from our educational mission.