Chart of the Day To create today's chart, consumer spending on gasoline and oil was divided by disposable income. The chart illustrates how the recent spike in gasoline and oil prices are currently taking a larger chunk (3.1%) of disposable income (i.e. take-home pay). While a percentage point increase over three years may not seem like a great deal, it is worth noting that previous spikes in the gasoline spending to disposable income ratio did occur around the time of a recession. Stay tuned...
Notes: - Which way is oil headed and what does the current oil spike mean for the stock market? Find out with the exclusive charts of Chart of the Day Plus.
Source - BEA
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Quote of the Day "The Stone Age didn't end because they ran out of stones; the Oil Age won't end because we run out of oil." - Don Huberts
Events of the Day
August 29, 2005 - US Open tennis tournament begins (ends September 11th) September 05, 2005 - Labor Day
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