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US personal savings rate is nearing the historic low

US personal savings rate is nearing the historic low

Americans are spending more on their own. Personal spending increased 0.6 percent in September, exactly the same as the previous month and income growth increased by 0.4 percent for both of the months. The total earnings increased 5.2 percent YoY, and so did earnings. However, due to the reduction of tax credits, income grew just 3.1 percentage points YoY. Spending, on the other hand, closely follows inflation, rising 8.2 percent in September, in comparison against the previous month one year ago. Lowa Youth Advocates seek to begin a campaign for marijuana education Growth in spending is generally an indicator of…
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