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Personal Income Rises At Slowest Pace In 5 Months As Savings Rate Drop

Personal income rose at 0.3% MoM in August, the weakest growth and biggest miss since March's tumble. At the same time spending rose 0.4% MoM, slightly more than expected. Of course this relative shift means the savings rate declined from 4.7% to 4.6%, which is to be cheered by economic models the emphasize spending over saving.

Income growth slowing dramatically...



Which means the savings rate has dropped to 10-month lows...


And in context...


Charts: Bloomberg