September 26, 2017

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Real Personal Spending Crashes Most Since 2009



zerohedge.com / by Tyler Durden / Mar 1, 2017 8:41 AM

While the key number analysts were looking for in today’s Personal Spending data was the PCE Price Index, both headline and core, which rose by 1.9% and 1.7% respectively, the latter coming in as expected, just shy of the Fed’s 2.0% inflation target, the internals on US incomes and spending were just as notable.  Here, the silver lining of a rise in incomes (+0.4% MoM vs +0.3% exp) was dashed by a disappointingly slow growth in spending (+0.2% vs +0.5% prev).

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With incomes rising more than spending, the savings rate predictably ticked up from multi year lows, rising from 5.4% to 5.5% in January.

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