U.S. personal savings rate falls to 4.7% as inflation holds at 2.8%

The U.S. personal saving rate declined to 4.7% in September while inflation remained at 2.8% year-over-year, according to the Bureau of Economic Analysis. Real consumer spending showed zero growth during the period, marking one of the weakest consumption readings this year. Personal income rose 0.4%, driven by wage gains and dividend income.