There are some indications, however, that though incomes have been gaining ground, the amount of money that consumers are pocketing for the future in the form of savings, faced a bit of pressure in the most recent quarter.Personal Income and Savings RatesIn the latest quarter, disposable personal income was higher, at just under trillion — , billion in Q — compared to trillion in the third quarter.
However, personal savings declined slightly to billion, down kuwait mobile database from billion as had been seen in the third quarter, marking the lowest level of The personal saving rate fell to % in the latest reading, after reaching % in Q, % in Q, and % in Q, reflecting a gradual decline over the year.Initial results from companies including the payments network underscore that consumers are still spending even into the new year.
Mastercard, for example, said Thursday in its most recent earnings report that debit spending was up in the low double digits, outpacing credit card spending a bit, as measured year over year. And big bank earnings, as PYMNTS has detailed through the past few weeks, have taken note of the resilient consumer attitude toward opening one’s pocketbook. But at those same banks, deposit trends have been mixed, which is corroborated by the GDP details on savings rates.
- Board index
- All times are UTC
- Delete cookies
- Contact us