Personal Saving Rate Drops to 3.4% in September

The most recent data release from the Bureau of Economic Analysis (BEA) showed that personal income increased 0.3% in September. The pace of personal income growth slowed after reaching a 1% monthly gain in January 2023. Gains in personal income are largely driven by increases in wages and salaries. With spending increasing faster than personal income, the September personal savings… Read More ›