Consumers Show Gains in Personal Income

Small improvements take place

money rubberbandThe day starts off with some good news. Consumers in the United States recently demonstrated small improvements when it comes to personal income.

However, despite the increase, disposable income showed slight declines. The U.S. Bureau of Economic Analysis (BEA) reports personal income increased $2.3 billion, or less than .1%, and disposable personal income (DPI) decreased $3.8 billion, or less than .1%, in December. Personal consumption expenditures (PCE) increased $44.1 billion, or .4%.

In November, personal income increased $29.8 billion, or .2%, DPI increased $14.4 billion, or .1%, and PCE increased $74.8 billion, or .6%.

Other key findings by the BEA:

  • Private wages and salaries increased $0.7 billion in December, compared with an increase of $35.0 billion in November.
  • Supplements to wages and salaries increased $1.7 billion in December, compared with an increase of $4.3 billion in November.
  • Personal current taxes increased $6.0 billion in December, compared with an increase of $15.5 billion in November.
  • Personal outlays increased $42.0 billion in December, compared with an increase of $72.7 billion in November.
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