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Thursday, March 28, 2024

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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