U.S. Savings Rate Falls Below Zero

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00023064-us-savings-rate-falls-below-zero/

By Rex Nutting, MarketWatch

U.S. consumers spent more than they earned in July for just the second time in the last 46 years, the Commerce Department said Thursday.

Personal incomes increased 0.3% in July, while spending soared ahead by 1%. As a result, the personal savings rate tumbled to negative 0.6%, the lowest since monthly records began in 1959.

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U.S. Savings Rate Falls Below Zero

Unknown Author

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