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Tuesday, December 23, 2014

Personal Income & Expenditures Increase in November

Personal income increased $54.4 billion, or 0.4%, in November according to the Bureau of Economic Analysis, compared to a 0.3% increase the previous month. Personal consumption expenditures (PCE) increased $67.9 billion, or 0.6% in November, after a 0.3% increase in October.

Disposable personal income — personal income less personal current taxes — increased $42.4 billion, or 0.3% in November, while real disposable income increased 0.5%.

The personal savings rate declined 0.2 percentage points to 4.4%.



Private wages and salaries increased $38.7 billion in November, compared with an increase of $24.9 billion in October. Goods-producing industries’ payrolls increased $7.3 billion, manufacturing payrolls increased $3.9 billion, service-producing industries’ payrolls increased $31.5 billion and government wages and salaries increased $1.8 billion.

Supplements to wages and salaries also increased in November, rising $5.4 billion, compared with an increase of $4.3 billion in October. Proprietors’ income increased $7.6 billion, compared with an increase of $18.8 billion in October.

The price index for PCE decreased 0.2% in November, in contrast to an increase of less than 0.1% in October. The PCE price index, excluding food and energy, increased less than 0.1% in November, compared with an increase of 0.2% in October.

Read the BEA release.

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