Personal income rose $54.0 billion (0.3%) in November according to estimates released today by the Bureau of Economic Analysis. Disposable personal income (DPI) climbed $50.9 billion (0.4%) and personal consumption expenditures (PCE) increased $87.1 billion (0.6).
Real DPI increased 0.1 percent in November and Real PCE increased 0.4%. The PCE price index increased 0.2%. Excluding food and energy, the PCE price index increased 0.1%.
The improvement in personal income in November primarily reflected increases in wages and salaries and personal interest income.
The $49.1 billion increase in real PCE in November reflected an increase of $22.3 billion in spending for goods and a $27.6 billion increase in spending for services. Within goods, recreational goods and vehicles was the leading contributor to the increase. Within services, the largest contributor to the increase was spending for electricity and gas.
Personal outlays increased $91.7 billion in November. Personal saving was $426.2 billion in November and the personal saving rate, personal saving as a percentage of disposable personal income, was 2.9%.