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Aug 29 2008 11:48AM EDT

Chart of the Day: Stimulus Tracker

This morning's consumer spending data showed that the effect of the stimulus package is waning. But as perhaps a silver-lining, the drop-off is similar to the 2001 experience, which has been considered successful in preventing a deeper downturn during the last recession.

The government reported today that consumer spending rose 0.2 percent in July, but when inflation is factored in, spending fell 0.4 percent compared with June.

The following chart shows the year-over-year growth in inflation-adjusted spending:

stimulus_tracker_august.gif

And this chart compares the personal savings rate:

savings_rate.gif
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