For 12 months in a row, Americans’ spending has grown faster than their incomes.
Income growth YoY is the highest since May 2015 as spending growth slowed… with real disposable personal income seeing its first YoY increase since July.
February personal spending disappointed modestly, rising just 0.1% MoM while incomes grew at 0.4% MoM, as the savings rate rose to its highest since October 2016
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