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US Personal Savings Rate Falls To -24% YoY In June (Revision Wipes Out $226 Billion In Savings)

This is a syndicated repost courtesy of Snake Hole Lounge. To view original, click here. Reposted with permission.

On  top of today’s news that inflation (as measured by Core PCE Price Growth) is flat at 1.5% YoY, the same BEA report shows that the Personal Savings Rate in the USA fell to -24% YoY.


Now The Balance Begins To Shift

The balance between QE and Treasury supply will begin to shift in July. The underlying bid it has provided for stocks and Treasuries will begin to fade.

This report tells why, and what to look for in the data and the markets.  GO TO THE POST


psvincyoy

At least Personal Income growth is 2.6% YoY.

Bear in mind that the estimates released today reflect the results of the annual update of the national income and product accounts (NIPAs) in conjunction with preliminary estimates for June 2017. The update covers the most recent 3 years and the first 5 months
of 2017.

This revision to savings just wiped out $226 billion.

bearevision

And like that, personal savings was gone.

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