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Personal Income: Savings Too Low?
March personal income rises a substantially less-than-expected 0.2% (Consensus: +0.4%; Decision Economics: +0.6%). Real personal consumption, meanwhile, rises a solid 0.3%, closing out a Q1 monthly pattern giving a firmish liftoff to Q2–such that flat real monthly consumption through the quarter would still imply 1.3% annualized quarter-on-quarter growth.
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