The Bureau of Economic Analysis (BEA) reported personal income rose $101.7 billion (0.5%) in November, exceeding the forecast range. The gain was primarily driven by better compensation for employees, as well as farm proprietors’ income, and personal interest income.
Forecasts ranged from a low of 0.2% to a high of 0.4%. The consensus forecast was 0.3%.
Disposable personal income (DPI) rose $87.7 billion (0.5%) and consumer spending continued to come in stronger than expected. Personal consumption expenditures (PCE) gained $64.9 billion (0.4%).
Forecasts ranged from a low of 0.2% to a high of 0.5%. The consensus forecast for spending was 0.4%.
Real DPI and real PCE rose 0.4% and 0.3%, respectively. The PCE price index increased 0.2%. Excluding food and energy, the PCE price index increased 0.1%.
The $37.8 billion increase in real PCE reflected an increase of $22.6 billion in spending for goods and a $17.1 billion increase in spending for services.
Personal outlays increased overall by $68.6 billion in November.
Personal saving was $1.31 trillion in November and the personal saving rate—personal saving as a percentage of disposable personal income—rose slightly to 7.9%.
The most damning journalistic sin committed by the media during the era of Russia collusion…
The first ecological study finds mask mandates were not effective at slowing the spread of…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris note how big tech…
On "What Are the Odds?" Monday, Robert Barnes and Rich Baris discuss why America First…
Personal income fell $1,516.6 billion (7.1%) in February, roughly the consensus forecast, while consumer spending…
Research finds those previously infected by or vaccinated against SARS-CoV-2 are not at risk of…
This website uses cookies.