The figures from the U.S. Commerce Department come ahead of the Fed's rate decision on Wednesday
The report arrives ahead of the holiday shopping season, a critically important time for retailers
The figures reflect a slowdown in consumers' willingness to spend after a blowout summer
Wage demands could moderate with economy in “middling phase”
Many Americans are digging into their savings to maintain the same level of spending
Oxford Economics expects 0.5% Q2 growth, on annualized basis, in U.S. economy