U.S. spending rises 0.7%; savings rate negative

WASHINGTON – U.S. consumer spending rose 0.7 percent in December, outpacing November’s increase of 0.5 percent, the U.S. Commerce Department’s Bureau of Economic Analysis today reported. After-tax disposable income was up 0.5 percent, outpacing November’s gain of 0.2 percent, the bureau said. But with spending outpacing income, the national savings rate dove further into the…
To read the full story, Subscribe or
Subscribe to PBN
- Advertisement -