Americans Earning a Bit More, But Spending Cautiously
(NEW YORK) — Monday’s income and outlays report from the Bureau of Economic Analysis is about as expected, with not much good news but no major bad news.
American incomes increased 0.4 percent, according to the report. If this trend continues, maybe the strength of the consumer will continue to buoy the economy in the future.
But spending dropped compared to a month ago. This may be because spending had been pushed up earlier in the year because of warm weather.
The personal savings rate edged up to 3.8 percent last month from 3.7 percent in February.
While the U.S. economy isn’t in a recession, the recent batch of data does not show a robust recovery.
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