Personal Income and Consumption Rose in November

Personal income increased $44.4 billion, or 0.3 percent in November, according to the Bureau of Economic Analysis, down from a 0.4 percent October increase. Personal consumption expenditures (PCE) increased $40.1 billion, or 0.3 percent.

Real disposable personal income – personal income less taxes – increased 0.2 percent, down from 0.3 percent in October.

The personal savings rate – personal savings as a percentage of disposable income – was 5.5 percent, down from 5.6 percent in the previous month.

Wages and salaries increased $37.1 billion in November after increasing $47.2 billion in October. The majority of November’s gain was due to wage increases in the private sector.

The price index for PCE increased less than 0.1 percent, slightly less than October. The index excluding food and energy increased 0.1 percent, up slightly from the previous month’s gain.

Read the BEA release.