November consumer spending increases more than income, leading to decline in savings rate

In November, personal income increased 0.3 percent, disposable personal income (DPI) rose 0.4 percent and personal consumption expenditures (PCE) increased 0.6 percent, leading to a decline in the personal savings rate to 2.9 percent from 3.2 percent. A year ago, the personal savings rate was 3.7 percent.

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