http://globaleconomicanalysis.blogspot.com/2011/08/us-consumer-spending-unexpectedly.html
Savings Rate Increases as Spending Declines
Consumers spent less on food and gas because of declining prices but did not spend more elsewhere to make up for it. Since wages rose (barely), the savings rate went up.
Did economists expect this?
Savings Rate Increases as Spending Declines
Consumers spent less on food and gas because of declining prices but did not spend more elsewhere to make up for it. Since wages rose (barely), the savings rate went up.
Did economists expect this?
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