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Spending +.3%, Savings rate highest in 15 years.

June 26, 2009

Wall Street Journal reported today, “The income of Americans soared in May because of the government’s economic stimulus, leading them to increase spending modestly and boost the saving rate to the highest in 15 years. Personal income rose at a seasonally adjusted rate of 1.4% compared to the month before, the Commerce Department said Friday. The jump reflected reduced taxes and increased social benefit payments unleashed by the stimulus package. Consumer spending, or personal consumption, rose 0.3% compared to the month before.”

  
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Marie June 26, 2009

Interesting data with the unemployment rates as high as they are.

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