WASHINGTON—Personal income increased $41.3 billion, or 0.3%, and disposable personal income (DPI) increased $35.8 billion, or 0.3%, in December, according to the Bureau of Economic Analysis.
According to the BEA, DPI increased (0.5%) in December, compared with an increase of 0.4% in November. Real PCE decreased 0.1%, in contrast to an increase of 0.7%. The price index for PCE decreased 0.2 % in December, the same decrease as in November.
Meanwhile, the BEA reported that wages and salaries increased $6.9 billion in December, compared with an increase of $42.2 billion in November. Private wages and salaries increased $4.9 billion, compared with an increase of $40.6 billion. Government wages and salaries increased $1.9 billion, compared with an increase of $1.7 billion.
In addition, personal outlays—PCE, personal interest payments, and personal current transfer payments— decreased $39.2 billion in December, in contrast to an increase of $59.7 billion in November. PCE decreased $40.0 billion, in contrast to an increase of $58.8 billion.
Personal saving—DPI less personal outlays—was $643.2 billion in December, compared with $568.2 billion in November. The personal saving rate—personal saving as a percentage of disposable personal income—was 4.9% in December, compared with 4.3% in November, the BPE said.
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