Thoughts of recession in the U.S. waned slightly on news that consumer spending rose 0.6 percent in September. The mood was spoiled somewhat as incomes rose less than expected contributing to the lowest savings level in nearly four years.
Ã¢â‚¬Å“Given the state of consumer sentiment and the savings rate, we should see moderate spending, at best, going forward,Ã¢â‚¬Â said Sean Incremona, a senior economist at 4Cast Inc. in New York. Ã¢â‚¬Å“The savings rate is just one of those warning signs that says weÃ¢â‚¬â„¢re not pulling ourselves out vigorously, so the economy still has a lot of vulnerability.Ã¢â‚¬Â
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.