Following the collapse in UK savings rate (to 54 year lows) this morning, US Real Personal Spending rates disappointed in the US (rising just 0.1% MoM – the weakest since February). While incomes rose slightly more than expected, spending growth was just 0.1% MoM – the weakest since August 2016.
The PCE Deflator grew at its slowest since Nov 2016…
All of which sent the savings rate to its highest since September…after plunging into year end 2016 on Trump confidence it has since surged as spending has slowed down
Not exactly the signal that everyone is exuberantly buying the Trump trade.
via http://ift.tt/2s8TMkt Tyler Durden