The good news, personal income rose a better than expected 0.4% MoM (flat to the previous month's revised lower growth). The 'meh' news, personal spending rose just 0.2% - meeting expectations - but slowing its growth dramatically from the 0.7% revised May data. And the bad news, real personal spending was unchanged in June, its weakest growth (or lack of it) since February.
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This means the savings rate rose from 4.6% in May to 4.8% in June - its second lowest in 2015 (but increasing just as The Fed hopes for excape velocity consumption confirmed by their rate hikes in a circular logic fallacy).
Charts: Bloomberg
