Stronger GDP Raises the Stakes for Winning Consumer Dollars

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The Bureau of Economic Analysis revised second-quarter U.S. GDP growth up to 2.2%, driven by stronger consumer spending in goods and services. In August, nominal personal consumption expenditures increased by 0.9% even as real disposable personal income growth stalled at zero. Consequently, the personal saving rate fell to 4.1% of disposable income from 4.8% in July.