US Savings Rate Hits Crisis Lows Amid Soaring Credit Card Debt
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Title : US Savings Rate Hits Crisis Lows Amid Soaring Credit Card Debt
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Title : US Savings Rate Hits Crisis Lows Amid Soaring Credit Card Debt
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news-today.world | Amid soaring credit card use, the tumble in Americans' savings rate continued in December with a modestly better than expected 0.4% MoM rise in incomes and as expected 0.4% rise in spending (but upward revisions in spending).
For the inflation waters, the Fed's favorite price indicator, the Core PCE, saw a one-tenth gain to 0.2%, matching consensus, and was up 1.5% Y/Y.
Income is growing at 4.1% YoY - the most since Nov 2015 - but spending continues to outpace that growth.
Income growth is dominated by private worker gains, which are rising at an impressive clip, up 5.2% YoY, the highest since Nov 2015.Meanwhile, government workers arent' doing too bad either, with average wages and salaries rising 3.1% Y/Y.
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For the inflation waters, the Fed's favorite price indicator, the Core PCE, saw a one-tenth gain to 0.2%, matching consensus, and was up 1.5% Y/Y.
Income is growing at 4.1% YoY - the most since Nov 2015 - but spending continues to outpace that growth.
Income growth is dominated by private worker gains, which are rising at an impressive clip, up 5.2% YoY, the highest since Nov 2015.Meanwhile, government workers arent' doing too bad either, with average wages and salaries rising 3.1% Y/Y.
More
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You are now reading the article US Savings Rate Hits Crisis Lows Amid Soaring Credit Card Debt With link address https://newstoday-ok.blogspot.com/2018/01/us-savings-rate-hits-crisis-lows-amid.html