Despite the exuberant hype sourrounding Trump's election, Americans appear to have once again turned to saving – not spending – as the savings rate jumps to 5.9%, the highest since August.
Income growth has slowed…
But Spending has now gone nowhere for 2 months…
But Americans' spending habits are starky different…
- Spending on goods down $28.3 billion
- Spending on services up $34 billion
As the post-Trump world for Americans is one of saving… not spending…
Not exactly what the 'soft' data surge in sentiment predicted eh?
via http://ift.tt/2pnbYb3 Tyler Durden