Odd one is that personal savings rate improved to 5.6% from 5.3%, revised from 4.8%. The rate was the highest since fiscal cliff of 2013...as income improved, but spending was slow. However, ahead of Thanksgiving holiday people should have been motivated to save money temporarily. We have seen same movement in previous years. On the other hand, people may prepare post-FED's fund rate hike. If these two factors were significant, higher saving rate would be unwound soon...!
| Personal Income & Outlays (%) | Oct | Sep | Aug | Y/Y | 2014 | 2013 | 2012 |
|---|---|---|---|---|---|---|---|
| Personal Income | 0.4 | 0.2 | 0.4 | 4.6 | 4.4 | 1.1 | 5.0 |
| Wages & Salaries | 0.6 | 0.0 | 0.4 | 4.9 | 5.1 | 2.7 | 4.5 |
| Disposable Personal Income | 0.4 | 0.2 | 0.4 | 4.1 | 4.2 | -0.1 | 5.1 |
| Personal Consumption Expenditures | 0.1 | 0.1 | 0.3 | 2.9 | 4.2 | 3.1 | 3.4 |
| Personal Saving Rate | 5.6 | 5.3 | 5.2 | 4.5 (Oct. '14) | 4.8 | 4.8 | 7.6 |
| PCE Chain Price Index | 0.1 | -0.1 | -0.0 | 0.2 | 1.4 | 1.4 | 1.9 |
| Less Food & Energy | 0.0 | 0.2 | 0.1 | 1.3 | 1.5 | 1.5 | 1.9 |
| Real Disposable Income | 0.4 | 0.3 | 0.4 | 3.9 | 2.7 | -1.4 | 3.1 |
| Real Personal Consumption Expenditures | 0.1 | 0.1 | 0.3 | 2.7 | 2.7 | 1.7 | 1.5 |
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