Consumer Spending

Personal income increased $54.5 billion (0.2 percent at a monthly rate) in September, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI)—personal income less personal current taxes—increased $52.7 billion (0.2 percent), and personal consumption expenditures (PCE) increased $113.1 billion (0.5 percent). Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $113.0 billion in September. Personal saving was $911.1 billion, and the personal saving rate—personal saving as a percentage of DPI—was 3.8 percent.

Personal income increased $71.6 billion (0.3 percent at a monthly rate) in September. Disposable personal income (DPI)—personal income less personal current taxes—increased $57.4 billion (0.3 percent). Personal outlays—the sum of personal consumption expenditures (PCE), personal interest payments, and personal current transfer payments—increased $106.3 billion (0.5 percent) and consumer spending increased $105.8 billion (0.5 percent). Personal saving was $1.00 trillion and the personal saving rate—personal saving as a percentage of disposable personal income—was 4.6 percent in September.