Fri, 10/30/2020 – 08:38
That is the 5th straight month of rising spending but overall, consumption still remains very marginally lower (-0.6% YoY)…
On the income side, private workers saw wages rise (+1.0% YoY) but government workers saw pay drop (-1.2% YoY)…
The savings rate dropped to 14.3%, but last month’s 14.1% was adjusted to 14.8% so technically US savings were more than previously expected…
Finally we note that The Fed’s favorite inflation indicator – Core PCE Deflator – accelerated modestly in September from +1.3% YoY in August to +1.4% YoY.
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Author: Tyler Durden