Personal savings rate has been revised from 2.9% to 4.9% for August – recession cancelled?

There’s good news in another corner of today’s report: Americans are saving more than previously thought.

The personal saving rate, a measure of the disposable income left over after Americans pay their taxes and regular expenses, was 4.8% in August. The July reading was revised upward, from 2.9% to 4.9%.

https://www.marketwatch.com/livecoverage/pce-report-for-august-inflation-data-in-the-spotlight-after-fed-s-half-point-rate-cut/card/so-much-for-that-red-flag-consumers-are-saving-more-new-data-shows-b9FLxHAtnRTjI2fZIKgC

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