Personal Spending Spikes Most Since Aug 2009, Savings Rate Plunges, As Fuel Costs Surge

``Analysts were not disappointed as the headline spending print was a 7-year high +1.0% MoM spike driven by a 3.8% MoM surge in Energy spending. With income rising as expected at 0.4% MoM, and thanks to revisions, the savings rate tumbled to its lowest since 2015... last month's 5.4% savings rate - which was already the highest since 2012 - was revised to 5.9%, and it plunged back to 5.4% from there.''