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US Incomes, Spending Accelerated In September As Fed’s Favorite Inflation Signal Slowed

Courtesy of ZeroHedge View original post here.

After August's slowdown in annual growth for spending and income, analysts forecast a modest rebound in September but the data disappointed with personal income up 0.3% MoM (in line with expectations) but spending rose just 0.2% MoM (below the +0.3% MoM expected).

Source: Bloomberg

On a Year-over-year basis, both incomes and spending growth accelerated…

Source: Bloomberg

The divergence between spending and income has sent the savings rate up to 6-month highs…

Source: Bloomberg

And one of The Fed's most-watched inflation signals – core PCE deflator – slowed YoY, as real personal spending began to re-accelerate…

Source: Bloomberg

Get back to work, Mr.Powell!


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