Weak Income, Strong Spending

The Personal Income and Outlays report for September repeats the central theme for several months, weak income but strong spending anyway.

Personal Income

Personal income increased $77.8 billion (0.3 percent at a monthly rate) in September.

Disposable personal income (DPI), personal income less personal current taxes, increased $56.1 billion (0.3 percent).

Real DPI decreased 0.1 percent in September and was lower for the third consecutive month.

Personal Consumption Expenditures (PCE)

PCE increased $138.7 billion (0.7 percent).

Real PCE increased 0.4 percent; goods increased 0.5 percent and services increased 0.3 percent.