IPFS News Link • United States
Americans' Spending Jumps In July As Income Growth Slows Dramatically
• https://www.zerohedge.comFollowing this week's GDP revisions, Americans' spending was expected to reaccelerate (after slowing for 3 straight months) and incomes are expected to see growth moderate, and that is exactly what happened.
Personal Spending jumped 0.6% MoM in July (the best since April) but Personal Income rose just 0.1% MoM (well below expectations and the slowest since Sept 2018)
Source: Bloomberg
On a year-over-year basis, spending accelerated to +4.1% while income growth slowed notably to +4.6%.
Source: Bloomberg
Which means that the savings rate slumped from 8.0% to 7.7% (but remember this datya series was dramatically revised higher)...