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US Spending Growth Weakest Since February

Courtesy of ZeroHedge View original post here.

Amid worries that the US consumer is tapped out (or maxed out), it appears that despite disappointment at no gain in income, spending rose 0.3% MoM (as expected)

Source: Bloomberg

But both income and spending growth slowed YoY (Spending growth weakest since Feb)

Source: Bloomberg

The savings rate tumbled from 8.1% to 7.8%…

Finally, despite 30% of respondents planning to rein in their spending this holiday season, Bloomberg's Buying Climate survey has never been higher ahead of Black Friday…

Source: Bloomberg

Of course, with credit card rates at record highs…

…all that spending what you don't have will come at a serious cost in January.


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