Wednesday, November 26, 2014

Personal Income & Expenditures Increase in October

Personal income increased $32.9 billion, or 0.2%, in October according to the Bureau of Economic Analysis, steady with the previous month. While personal consumption expenditures increased $27.3 billion, or 0.2% in October, after a decrease of less than 0.1% in September.

Disposable personal income — personal income less personal current taxes — increased $23.4 billion, or 0.2% in October, while real disposable income increased 0.1%, the same increase as last month.

The personal savings rate remained at the same level as the previous month at 5.0%.

Private wages and salaries increased $18.8 billion in October, more than the increase realized in September. Goods-producing industries’ payrolls increased $7.2 billion, manufacturing payrolls increased $4.4 billion and government wages and salaries increased $1.4 billion.

Supplements to wages and salaries also increased in October, rising $18.8 billion – a larger increase than that in September. Increases in proprietors’ income - which decreased in September – was partially offset by lower rental incomes.

The price index for PCE increased 0.1% in October, the same increase as in September. The PCE price index, excluding food and energy, increased 0.2% in October, compared with an increase of 0.1% in September.

Read the BEA release.

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