Here's the news from the Bureau of Economic Analysis:
Personal income increased $35.1 billion, or 0.4 percent, and disposable personal income (DPI) increased $31.1 billion, or 0.4 percent, in August, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased less than $0.1 billion, or less than 0.1 percent. In July, personal income increased $19.9 billion, or 0.2 percent, DPI increased $15.0 billion, or 0.2 percent, and PCE increased $90.2 billion, or 1.1 percent, based on revised estimates.
The report at CNNmoney pretty much summed it up.
Consumer spending was flat in August while personal income gained, the government reported Thursday, with both economic readings coming in close to Wall Street expectations.
Here's something to think about: If you were forecasting interest rates, how would a continuation of this trend -- slow consumption growth relative to income growth -- affect your projections?