Savings Rate Falls to 12-Year Low

This morning, we learned that personal income rose 0.4% in December. That was 0.1% better than consensus. For the year, personal income increased by 3.1%. That’s up from growth of 2.4% in 2016.

Personal spending rose by 0.4% last month which matched expectations. The number for November was revised upward to 0.8%. The savings rate fell to 2.4% which is a 12-year low.

Posted by on January 29th, 2018 at 10:10 am


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