Consumer Spending

Personal income decreased $216.2 billion, or 1.0 percent at a monthly rate, while consumer spending increased $93.4 billion, or 0.6 percent, in September. The decrease in personal income primarily reflected the winding down of pandemic-related assistance programs. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 7.5 percent in September, compared with 9.2 percent in August.

Personal income increased $35.5 billion, or 0.2 percent at a monthly rate, while consumer spending increased $130.5 billion, or 0.8 percent, in August. The increase in personal income primarily reflected increases in compensation as well as government social benefits, which reflect advance Child Tax Credit payments authorized by the American Rescue Plan.

Personal income increased $225.9 billion, or 1.1 percent at a monthly rate, while consumer spending increased $42.2 billion, or 0.3 percent, in July. Compensation increased and new advance Child Tax Credit payments, authorized by the American Rescue Plan, began in July.

Personal income increased $26.1 billion, or 0.1 percent at a monthly rate, while consumer spending
increased $155.4 billion, or 1.0 percent, in June. Compensation increased in June while pandemic-related assistance programs declined.

Personal income decreased $414.3 billion, or 2.0 percent at a monthly rate, while consumer spending increased $2.9 billion, or less than 0.1 percent, in May. The decrease in personal income reflected declines in pandemic-related assistance programs.

Personal income decreased $3.21 trillion, or 13.1 percent at a monthly rate, while consumer spending increased $80.3 billion, or 0.5 percent, in April. Economic impact payments established by the American Rescue Plan Act, declined sharply in April.

Personal income increased $4.21 trillion, or 21.1 percent at a monthly rate, while consumer spending increased $616.0 billion, or 4.2 percent, in March. Economic impact payments established by the American Rescue Plan Act of 2021, which was enacted on March 11, 2021, were distributed.

Personal income decreased $1,516.6 billion, or 7.1 percent at a monthly rate, while consumer spending decreased $149.0 billion, or 1.0 percent, in February.

Personal income increased 10.0 percent (monthly rate) while consumer spending increased 2.4 percent in January as provisions of the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act enacted on December 27, 2020, began to take effect.

Personal income increased 0.6 percent (monthly rate) while consumer spending decreased 0.2 percent in December as many provisions of the CARES Act continued to wind down before the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act was enacted on December 27, 2020. Additionally, new restrictions and closures took effect in some areas of the United States.