Personal Saving Rate

Personal income increased $89.3 billion, or 0.4 percent at a monthly rate, while consumer spending increased $152.3 billion, or 0.9 percent, in April. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 4.4 percent in April, compared with 5.0 percent in March.

Personal income increased $107.2 billion, or 0.5 percent at a monthly rate, while consumer spending increased $185.0 billion, or 1.1 percent, in March. The increase in personal income primarily reflected an increase in compensation. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 6.2 percent in March, compared with 6.8 percent in February.

Personal income increased $101.5 billion, or 0.5 percent at a monthly rate, while consumer spending increased $34.9 billion, or 0.2 percent, in February. The increase in personal income primarily reflected an increase in compensation of employees that was partly offset by a decrease in government social benefits. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 6.3 percent in February, compared with 6.1 percent in January.

Personal income increased $9.0 billion, or less than 0.1 percent at a monthly rate, while consumer spending increased $337.2 billion, or 2.1 percent, in January. The increase in personal income primarily reflected an increase in compensation of employees that was partly offset by a decrease in government social benefits. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 6.4 percent in January, compared with 8.2 percent in December.

Personal income increased $70.7 billion, or 0.3 percent at a monthly rate, while consumer spending decreased $95.2 billion, or 0.6 percent, in December. The increase in personal income primarily reflected an increase in compensation of employees. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 7.9 percent in December, compared with 7.2 percent in November.

Personal income increased$90.4 billion, or 0.4 percent at a monthly rate, while consumer spending increased$104.7 billion, or 0.6 percent, in November. The increase in personal income primarily reflected increases in compensation of employees and government social benefits. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 6.9 percent in November, compared with 7.1 percent in October.

Personal income increased $93.4 billion, or 0.5 percent at a monthly rate, while consumer spending increased $214.3 billion, or 1.3 percent, in October. The increase in personal income primarily reflected an increase in compensation of employees. The personal saving rate (that is, personal saving as a percentage of disposable personal income) was 7.3 percent in October, compared with 8.2 percent in September.

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.