Research >> Economics
Personal Income increased 0.5%, Spending increased 0.4%
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Personal income increased $101.7 billion (0.5 percent) in November according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) increased $87.7 billion (0.5 percent) and personal consumption expenditures (PCE) increased $64.9 billion (0.4 percent).
Real DPI increased 0.4 percent in November, and real PCE increased 0.3 percent. The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.1 percent.
The increase in personal income in November primarily reflected increases in compensation of employees, farm proprietors’ income, and personal interest income.
The $37.8 billion increase in real PCE in November reflected an increase of $22.6 billion in spending for goods and a $17.1 billion increase in spending for services. Within goods, spending on new motor vehicles was the leading contributor. Within services, spending on health care was the leading contributor. Detailed information on monthly real PCE spending can be found in Table 2.3.6U.
Personal outlays increased $68.6 billion in November. Personal saving was $1.31 trillion in November and the personal saving rate, personal saving as a percentage of disposable personal income, was 7.9 percent.
Posted: December 20, 2019 Friday 10:00 AM