The headline data this month showed some growth in consumer income and spending – with expenditures year-over-year growth far outpacing income growth – and the savings rate remains historically low.
Analyst Opinion of Personal Income and Expenditures
The savings rate marginally improved but historically is extremely low.
Consumer spending continues to far outpacing income – not good news. Although this month income grew faster than expenditures.
The backward revisions this month were down.
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