While US personal incomes grew, as expected, at 0.3% MoM, Americans remained on a spending spree (up 0.6% MoM). For the 28th month in a row, YoY growth in spending outpaced incomes, sending the savings rate back down to just 2.8% - close to record lows.
Savings Rate Tumbles Back Near Record Lows As Americans Spend More Than They Make For 28th Month In A Row
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