WASHINGTON—Personal income increased $54.4 billion, or 0.4%, and disposable personal income (DPI) increased $42.4 billion, or 0.3%, in November, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $67.9 billion, or 0.6%. In October, the BEA said personal income increased $49.8 billion, or 0.3%, DPI increased $39.7 billion, or 0.3%, and PCE increased $31.3 billion, or 0.3%, based on revised estimates.
Meanwhile, said the BEA, real DPI increased 0.5% in November, compared with an increase of 0.3% in October. Real PCE increased 0.7%, compared with an increase of 0.2%. The price index for PCE decreased 0.2%, in contrast to an increase of less than 0.1%.
Other data released by the BEA:
- 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 in November, the same increase as in October. Manufacturing payrolls increased $3.9 billion in November, compared with an increase of $4.6 billion in October. Services-producing industries' payrolls increased $31.5 billion, compared with an increase of $17.6 billion. Government wages and salaries increased $1.8 billion, compared with an increase of $1.2 billion.
- Supplements to wages and salaries increased $5.4 billion in November, compared with an increase of $4.3 billion in October.
- Proprietors' income increased $7.6 billion in November, compared with an increase of $18.8 billion in October. Farm proprietors' income increased $3.2 billion, compared with an increase of $3.3 billion. Nonfarm proprietors' income increased $4.4 billion, compared with an increase of $15.5 billion.
- Rental income of persons increased $0.5 billion in November, compared with an increase of $0.8 billion in October. Personal income receipts on assets (personal interest income plus personal dividend income) increased $5.6 billion, compared with an increase of $3.6 billion. Personal current transfer receipts decreased $0.1 billion, compared with a decrease of $0.5 billion.
- Contributions for government social insurance—a subtraction in calculating personal income—increased $5.3 billion in November, compared with an increase of $3.2 billion in October.
- Personal outlays—PCE, personal interest payments, and personal current transfer payments—increased $67.7 billion in November, compared with an increase of $31.2 billion in October. PCE increased $67.9 billion, compared with an increase of $31.3 billion.
- Personal saving—DPI less personal outlays—was $576.5 billion in November, compared with $601.7 billion in October. The personal saving rate—personal saving as a percentage of disposable personal income—was 4.4% in November, compared with 4.6% in October.
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