Personal income increased $35.7 billion (0.2 percent) in September according to estimates released by the Bureau of Economic Analysis. Did you get your share?
Disposable personal income (DPI) increased $29.1 billion (0.2 percent) and personal consumption expenditures (PCE) increased $53.0 billion (0.4 percent).
Real DPI (inflation-adjusted) increased 0.1 percent in September and Real PCE increased 0.3 percent.
The increase in personal income in September primarily reflected increases in wages and salaries, government social benefits to persons, and rental income of persons that were partially offset by a decrease in proprietors’ income.
Spending Is Up, Too
The $33.2 billion increase in real personal consumption in September reflected an increase of $33.5 billion in spending for goods and a $3.5 billion increase in spending for services.
Within goods, motor vehicles and parts was the leading contributor to the increase, with strong contribution from recreational goods and vehicles.
Within services, the largest contributor to the increase was spending for health care that was more than offset by a decrease in spending for food services and accommodations.
Personal outlays increased $57.9 billion in September.
Personal saving was $975.7 billion in September, and the personal saving rate, personal saving as a percentage of disposable personal income, was 6.2 percent.