January Spending Surge “Revised” Away, Pushing Savings Rate To Highest Since 2012; Personal Income Slides

Monday, March 28, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
03/28/2016

Headline data for income modestly beat expectations (+0.2% MoM vs +0.1% MoM) and spending met expectations at +0.1% MoM respectively. Income growth YoY slowed to 4.0% however – near its weakest since Nov 2013. Spending growth also slowed to +3.8% YoY (from 2.9% in Jan) but the big story is the major downward revisions in spending. January’s +0.5% ‘surge’ in spending was revised to a mere +0.1% trickle – the weakest in over a year.

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