The BEA's revision also says that real personal income GREW 3.4%/year 2008 Q3-Q4. Thus, so far the loss of real GDP has not stopped households from having more real income. It's "just" that the businesses they own have (a lot) less retained earnings.
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I'm sorry' I've attempted to locate that data in recent BEA releases and am having trouble. Could you point me to the section where that information is located?
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