AMERICANS SPEND FASTER THAN THEY EARN AGAIN

US personal income rose just 0.2% in September while personal spending jumped 0.5%, the Bureau of Economic Analysis reported, pulling the saving rate down to 3.8% of disposable income. Inflation is still running hot enough that households are dipping deeper into savings just to keep up with prices. Consumer names like $XLY are exposed to a shopper who is spending faster than they earn.