Disposable Income Per Capita Grows At Weakest Rate Since 2014

For the 3rd month in a row, annual US spending growth has outpaced annual income growth (+4.2% spending vs +3.5% income).

 

However, both spending and income growth MoM disappointed (with incomes unchanged MoM - the weakest since Feb 2016).

 

Combine these two and the savings rate in November plunged to its lowest since March 2015.

 

Finally we note that Disposable Real Personal Income per Capita dropped from 39,292 to 39,247, increasing just 1.5% YoY - the weakest growth since 2014.