I don't know if it is good news or bad news, but it is certainly important. People have more money in their pockets. They are spending most of it. However, they are buying services, and their spending on goods has started to drop in absolute terms.
This is important especially to the people who make nondurable goods and you will see why below.
Much of it is probably deflation in gasoline pricing, if it is, it means there will be fallout in services when gas prices rebound.
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