December 20, 2019

Personal income increased 0.5 percent in November after increasing 0.1 percent in October. Wages and salaries, the largest component of personal income, increased 0.4 percent in November after increasing 0.5 percent in October.

PI Chart Dec20

Current-dollar disposable personal income (DPI), after-tax income, increased 0.5 percent in November after showing no change in October.

Real disposable personal income (DPI), adjusted for taxes and inflation, increased 0.4 percent in November after decreasing 0.2 percent in October.

Real consumer spending (PCE), adjusted for price changes, increased 0.3 percent in November after increasing 0.1 percent in October. Spending on goods increased 0.5 percent in November after decreasing 0.2 percent in October, while spending on services increased 0.2 percent in November, the same increase as in October.

PCE prices increased 0.2 percent in November, the same increase as in October. Excluding food and energy, PCE prices increased 0.1 percent in November and in October.

Personal saving rate
Personal saving as a percent of DPI was 7.9 percent in November and 7.8 percent in October.

For more information, read the full report.