Personal income increased 0.3% ($46.7 billion) in September according to the Bureau of Economic Analysis, up from a 0.2% increase in August. Personal consumption expenditures also increased, rising 0.5% or $61.0 billion. Disposable personal income – personal income less personal taxes – increased 0.3% after rising 0.2% in August.
The personal savings rate – personal savings as a percentage of personal income was 5.7%, down from August’s rate of 5.8%.
The Price index for PCE increased 0.2%. Excluding food and energy, the index increased 0.1%.
Read the BEA release.
Visit Banks and the Economy.