Monday, 23 December 2013

November Personal Income and Outlays for the U.S.: Consumer Spending Up, Disposable Income Up not as much and Savings Down

Some countries, and consumers, never learn. Here we go again.

In November, Personal Consumption Expenditures (consumer spending) increased 3.5% year on year...

...while Disposable Personal Income only grew by 1.5%...

...which then of course led to a further drop in the Personal Saving Rate which fell 28.8% on November last year to 4.2%.

This should of course please certain Keynesians and other econometricians and statisticians who do not understand, or simply ignore, the integral importance of savings.