Slowing Growth In Income = Slowing Pace Of Spending?Michael Panznerupdated Mar 01, 2012TweetAt GET.com we maintain complete editorial integrity on our content & provide transparent & unbiased information. Companies don't pay us to include their products although we receive a compensation when you successfully apply to products from our partners. See how we make money here.At GET.com we maintain complete editorial integrity. Based on the latest data (reported earlier today), the rate of growth in year-on-year personal income has fallen below that of personal spending, with the ratio of the former to the latter hitting its lowest level since June 2010. Simply put, unless household income is poised for an imminent jump -- which would seem to require a significant and sustained boost in new hiring in the absense of any "quick fix" stimulus programs -- this development suggests that the already languid pace of consumer spending (especially when viewed in real, or inflation-adjusted, terms) is set to be dragged even lower. Of course, details like this don't really matter to equity traders, who've been buying shares in the consumer discretionary sector like there's no tomorrow.Editorial Disclosure: Any personal views and opinions expressed by the author in this article are the author's own and do not necessarily reflect the viewpoint of GET.com. The editorial content on this page is not provided by any of the companies mentioned, and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author's alone, not those of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities.