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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: NickSE who wrote (49759)6/28/1999 12:33:00 PM
From: NickSE  Read Replies (1) of 86076
 
~~~No worries here -nfg-~~~

U.S. May Consumer Spending Outpaces Incomes, Driving Savings to Record Low
quote.bloomberg.com

Washington, June 28 (Bloomberg) -- U.S. consumer spending increased in May at a faster pace than incomes, driving the savings rate to a record low, government figures showed today.

Spending rose 0.6 percent in May after increasing 0.5 percent in April. Incomes increased 0.4 percent after climbing 0.5 percent in April. The savings rate, meanwhile, fell to a record low of minus 1.2 percent in May from negative 1 percent a month earlier. That means that for every dollar saved in May, $1.012 was spent.
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